LBG announces more redundancies across the Group
Lloyds Banking Group announced further restructuring across four business areas bringing the number of redundancy and branch closure programmes this year to 21.
The latest changes include further downsizing of the mortgage sales workforce and reductions within Business & Commercial Banking, Risk, and the Transport business.
While some new roles are being created, job losses are inevitable. We understand that these announcements create uncertainty and concern for colleagues as they navigate the selection process and assess the impact on their futures. Accord is here to provide support during this difficult time.
What's changing
All affected colleagues have been briefed directly by their line managers. Here’s an overview of the latest changes:
- Risk: 142 colleagues placed at risk across six areas. This includes the transfer of several operational processes to an external partner, which the business claims offers greater expertise, scale, and efficiency.
- Transport: Organisational changes across multiple teams, resulting in colleagues being placed at risk.
- Business & Commercial Banking: 36 colleagues placed at risk, affecting teams within the BCB Chief Operating Office (COO).
- Consumer Relationships – Consumer Growth: Further reductions in the Homes business with over 340 Mortgage & Protection Advisors and a number of Mortgage & Protection Managers now facing a selection process, though the final number of job losses is yet to be confirmed.
These changes are not just strategic business decisions – they have profound personal consequences for those affected. Accord has reached out to impacted members to offer our full support during this difficult period.
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 – advocating for alternative options and exploring every possible route to protect jobs.
- Ensuring fair treatment – supporting members through selection processes and making sure they receive their full redundancy entitlements
- Offering reassurance – offering guidance, advice, and a listening ear during this unsettling time.
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.
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.
