Lloyds Banking Group to close 60 branches and reduce mortgage workforce
Lloyds Banking Group has announced significant changes, including the closure of 60 branches and a reduction in its mortgage workforce.
Branch closures
Lloyds Banking Group will close 60 branches, including 28 Lloyds, 15 Bank of Scotland (BoS), and 17 Halifax branches, between October 2024 and June 2025. The bank plans to redeploy some affected Grade A and B colleagues to under-resourced branches within a 20-mile radius or a one-hour travel time in each direction. Colleagues will be offered redeployment to other parts of the Group or voluntary redundancy if alternative branches are either adequately staffed or overstaffed.
Accord has ensured that no colleague will incur additional travel costs due to relocation. Lloyds Banking Group (LBG) has committed to covering any reasonable extra travel expenses when colleagues move to a different base branch after their current branch closes. Reasonable travel is defined as 20 miles one way or one hour of travel time one way. This policy applies only to branch closures.
Mortgage workforce reduction
Lloyds Banking Group has also announced significant changes within its mortgage business, driven by a reduction in the number of customers seeking mortgages directly from the bank and the impact of interest rates on the size of the mortgage market. The bank anticipates reducing its mortgage workforce by 182 roles while creating 18 new roles. No colleague will be immediately at risk of redundancy, but a selection process will be completed, and outcomes delivered on August 20, 2024.
In his message to staff, LBG’s HOME Director, James Fulker, stated:
"Our goal is to have the right-sized team to reflect the changes in customer and market behaviours, giving us an organisation that is best placed to compete and win in the future. Our forecasts confirm that we’ll now require fewer people to continue to meet customer demand. "
Supporting members
Accord is committed to minimising compulsory redundancies and ensuring that those who leave the business receive the full value of their heritage redundancy compensation terms.
We’ve contacted all impacted members, offering advice and support during this difficult time and assuring them of our support throughout this challenging change programme.
We’re committed to supporting any member facing changes to working hours or work-life balance and aim to find mutually acceptable and fair solutions.
For general inquiries, please contact Jim Fielding at [email protected]
Bank of Scotland closures
Closing branches | |
Bathgate | |
Bonnyrigg | |
Callander | |
Campbeltown | |
Cowdenbeath | |
Dunfermline Bothwell | |
Edinburgh Portobello | |
Kirkcaldy Mitchelston | |
Kyle | |
Linlithgow | |
Mallaig | |
Newton Stewart | |
North Berwick | |
Rothesay | |
Wick |
Halifax closures
Closing branches | |
Belfast Castlecourt | |
Belfast Connswater | |
Bishops Stortford | |
Blyth | |
Canary Wharf | |
Evesham | |
Gillingham (Kent) | |
Harwich | |
Heswall | |
Leighton Buzzard | |
Littlehampton | |
Maghull Westway | |
Ormskirk | |
Rugby | |
Sale | |
Stratford upon Avon | |
Witham |
Lloyds closures
Closing branches | |
Alcester | |
Ashbourne | |
Birmingham Kitts Green | |
Bletchley | |
Blyth | |
Brynmawr | |
Chesham | |
Cranbrook | |
Fulwood Preston | |
Gorleston-on-Sea | |
Heaton | |
Kenilworth | |
Kettering | |
Leighton Buzzard | |
Liskeard | |
Market Drayton | |
Presteigne | |
Sheffield Firth Park | |
Spennymoor Cheapside | |
St Ives Cambridge | |
Stanley | |
Stow-on-the-Wold | |
Swindon Old Town | |
Torquay Fleet St | |
Wadebridge | |
Warwick | |
Woodbridge | |
Worle |