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05 February 2025

LBG announces major changes in Platforms businesses

Newsflash for LBG members
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Major changes announced in the Platforms businesses

Lloyds Banking Group has today announced major changes which are described as “... – a gamechanger for Lloyds Banking Group, that’s going to drive engineering excellence, deliver enhanced customer experiences and fuel our growth to become the UK's biggest Fintech.

Whilst the headline is that around 1,300 new roles will be created in the Platform teams in the UK alongside the planned growth in Lloyds Technology Centre in Hyderabad India, there are major changes for many in the current workforce.

Almost 200 colleagues are at risk of redundancy because their roles have been removed from the organisational structure.

More than 100 colleagues are at risk due to their location—being more than 25 miles or 1 hour 15 minutes from one of the designated hubs.

We’re also contacting nearly 1,000 Accord members today who will have to go through selection processes as the bank deems that their current roles will no longer exist and the roles available are deemed as ‘new’.

This approach means that successful candidates may have to agree to change their working arrangements to stay in employment. Some others will not be that lucky and will face possible redundancy if they don’t secure a role due to skills, location or the reduced demand for certain roles.

All affected employees have been briefed directly by their line managers and Accord has contacted the impacted members offering our support through this challenging time.

These changes are more than just strategic decisions—they have real and personal consequences for the colleagues affected.

How Accord can help

Accord has already reached out to affected members to offer tailored support. Our priorities are:

If you’re not directly affected but feel uncertain about what these changes mean for your future, we’re here for you too.

Accord remains a trusted source of expert support and representation, helping members navigate times of change with confidence.

Changes to representation in Grade D and above

From 1 January 2025, Lloyds Banking Group introduced major changes to representation arrangements. For colleagues in grades D to G, consultation on matters like collective redundancies in the future will be through Employee Forums, rather than through collective consultation with Accord and Unite.

However, today’s changes have been under discussion with the unions since the summer of 2024. We have been fully consulted and will continue to be on this change programme. We strongly encourage anyone not already in the union to join.

The challenges of restructures and organisational changes are exactly the times when having union expertise on your side makes all the difference. Share this message with your colleagues—it’s never been more important to stay connected and supported.

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