Lloyds, the largest UK bank, is restructuring to offer more online services and severing 1,600 positions within its branch network.

The cuts are part of a push by banks to trim expenses amid challenging economic conditions and competition pressures.

The company’s redesign includes adding 830 positions to an expanded “relationship growth” team, responsible for understanding clients’ financial objectives and offering services over the phone, in video meetings, and across branches.

The process will result in the loss of roughly 769 jobs.