LBG announces major shake-up in its branch networks
Lloyds Banking Group has announced it plans to cut 163 jobs in grades E to G in an overhaul of the size and make-up of areas and pools and its management structures.
At the same time, 60 new roles are being created, bringing the net loss of jobs down to 103.
But that’s still a significant reduction and there may be more to come once the outcome of discussions with bank managers and area director assistants in grades C and D is known some time in Q1 2023.
Area boundaries have been reformed resulting in a drop from 28 to 20 Area Director Groups. Area Directors to fill the resultant roles have already been selected.
Pool sizes have been reviewed resulting in most pools having an average of 6 branches.
The number of areas will reduce as follows:
- Lloyds – down from 14 to 10
- Bank of Scotland – down from 4 to 3
- Halifax – down from 10 to 7
We welcome LBG’s confirmed commitment to support impacted colleagues with reskilling and redeployment opportunities throughout the Group and to avoid compulsory redundancies.
Further, that the business has confirmed that branches remain key to LBGs multi-channel strategy.
Accords General Secretary Ged Nichols said:
“The business case driving this restructure is the change in customer demand combined with the closure of branches over the last few years. However strong that case may be, we know this announcement will worry Accord members who are both directly and indirectly impacted.
Our priority is to do all we can to avoid compulsory redundancies and we’ll stay closely in touch with our impacted members in the branch networks to deal with emerging issues. Accord’s team of experienced officers is on stand-by to support members through the change process from start to finish.
Coping with change like this at a time when the economic environment is tougher than it’s been for decades will be difficult. But we’re here to offer all the advice, guidance and support we can.”
