(Corrects to state Lloyds 39 pct owned by taxpayer, not 81 pct)
LONDON, May 9 (Reuters) - State-backed Lloyds Banking Group said on Thursday it would cut 850 jobs in commercialbanking, retail, and other operations as part of plans to reducecosts.
Lloyds, 39 percent owned by the British taxpayer, said thecutbacks were part of a strategic plan announced in 2011 to let15,000 staff go and save 1.5 billion pounds a year ($2.3billion).
($1 = 0.6425 British pounds) (Reporting by Matt Scuffham; Editing by Steve Slater)