We've noticed you are using an outdated internet browser. For optimum performance and usability of the this website, we suggest you upgrade your browser.
Newsflash announcement logo - green outline of a cartoon person with megaphone on blue block background
Back to all articles

27 June 2024

Lloyds Banking Group announces major changes

60 branch closures and reduction to mortgage workforce
Play the video

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

You might also like