Nine organisational design changes announced as part of LBG's ongoing transformation strategy
Today, Lloyds Banking Group announced its second major restructuring of the year, involving nine announcements.
The changes include significant increases in outsourcing to third-party suppliers. Sadly, despite the creation of some new roles, redundancies will result. This brings the total to 14 separate announcements already made this year.
We know that announcements like these cause worry and uncertainty for colleagues, as the full impact on roles and futures becomes clearer through selection processes. Accord is here to help members navigate this difficult time.
What’s Happening
All affected colleagues have been briefed directly by their line managers. Here’s an overview of the changes announced:
- Corporate & Institutional Banking: Significant outsourcing and reorganisations, placing 125 colleagues at risk and increasing job losses to approximately 145 with vacancy closures.
- Insurance, Pensions & Investment: Organisational realignments, role upgrades and downgrades, and redundancies across several teams
- People & Places: Downsizing and outsourcing lead to 50 job losses, with a majority in learning and support functions.
- Business & Commercial Banking: A reduction in the invoice finance team as well as moving work from Birmingham in the SBM team leads to the removal of almost 20 people.
- Consumer Relationships & Lloyds Bank Corporate Markets: Further role reductions across various grades and outsourcing in Consumer Relationships.
Each announcement represents not just a change in organisational strategy, but a profound personal challenge for the colleagues impacted.
How Accord Can Help
Accord has reached out to every affected member to provide tailored advice and support. Our immediate priorities are:
- Minimising compulsory redundancies: Through advocacy and exploring all available options.
- Ensuring fair treatment: Supporting members through selection processes and securing the full redundancy compensation they are entitled to.
- Offering reassurance: We’re here to listen, guide, and provide clarity during a time of upheaval.
If you are not directly impacted but feel concerned about your future in the organisation, we’re here to help. Throughout significant changes, Accord remains a reliable source of expert advice and representation.
A Reminder for D+ Colleagues
Since 1 January 2025, consultation on collective redundancies for Grades D - G has moved to Employee Forums. While these forums provide an avenue for discussion, they cannot match the personalised, expert representation and support that Accord offers.
Accord has retained engagement with the business for individual members in grades D - G, ensuring your voice is heard at the highest levels of LBG. Individual representation and advice for D+ members remain core to what we do, and we strongly encourage anyone not already in the union to join.
This is a challenging time for everyone at LBG. Change is rarely easy, but you don’t have to face it alone. Share this message with your colleagues—it’s never been more important to stay connected and supported.
