Lloyds Banking Group is planning to cut 650 permanent jobs and to close Halifax Independent Agency business, indicating the shut down of 265 of them that could lead to more job losses.

The part-nationalized financial firm has said that the impact of the job loss will be high in Chester and Nottingham operations, as they are closing the Nottingham insurance site.

The bank also reviewing plans to close Halifax Independent Agency business located within firms such as solicitors and estate agents. The 265 branched Halifax counters are expected to be closed in October and November.

The closure of Halifax network is expected to affect 1,850 bank staff. However, all of them or not on the group’s permanent pay rolls.

Reportedly, Lloyds has entered into a deal with the Post Office thus allowing Halifax customers to deposit cash and cheques at the 12,000 post office counters.