Loch Lomond golf club slashes 50 jobs after being hit by recession

Scotland's most exclusive golf club are axing more than a third of their staff after being hit by the credit crunch.

Loch Lomond Golf Club, whose members include Sir Sean Connery, contacted all staff on Tuesday to drop the bombshell that 50 of 140 jobs are earmarked for redundancy.

The announcement came after months of uncertainty, during which time the bank's finances were taken over by HBOS bank.

Bosses have been desperately trying to find ways of cutting the £10million-a-year running costs and bringing in new revenue.

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