Lloyds Banking Group announce significant changes across 5 business areas
Today, Lloyds Banking Group announced significant changes across five business areas and a major strategic change in its Community Banks operating model.
These changes will result in redundancies despite new role creations, with the number of colleagues at risk to be finalised following selection processes.
Here’s an overview of the key updates:
Group Sustainable Business
- Realigning its model by removing 13 roles and creating 8 new ones.
- 23 colleagues are impacted, with 11 mapped to roles, 10 in selection, and 2 immediately at risk.
- Some new roles are unavailable to current colleagues due to the skills required for the new roles.
- All impacted colleagues are in grades D-G.
Consumer Relationships – Chief Operating Office
- This is the largest change, impacting 1,527 colleagues.
- 445 roles are being removed, and 102 new ones created.
- 224 colleagues are mapped to roles, 1282 are in selection, and 21 are immediately at risk.
- Over 50% of impacted roles are at grades D-G, with Ds and Es most affected.
Consumer Relationships – Digital Engagement
- 18 roles will be removed, and 14 new roles created to invest in external skills.
- 68 colleagues are affected, with 10 mapped to roles and 58 in selection.
- All impacted colleagues are in grades D-G.
Consumer Relationships – Brands & Marketing Experience
- 13 roles will be removed, and 7 new roles introduced.
- 22 colleagues are impacted, with 2 mapped to roles and 20 in selection.
- Most new roles will likely go to external hires.
- All impacted colleagues are in grade G.
Community Banks
- Management of Halifax and Lloyds branches in England and Wales will merge into geographically sized pools.
- 193 roles will be removed, with 20 new grade C roles created.
- The change reduces regions from 10 to 8 and pools from 111 to 75.
- 558 colleagues are impacted, predominantly at grades D-G.
All impacted colleagues have been briefed by their line managers.
Accord has contacted every affected member to offer advice and support. Our priority is to ensure compulsory redundancies are minimised and that impacted members receive the full redundancy compensation they’re entitled to.
Other changes
Also today, Lloyds Banking Group announced the closure of the Speke & Dunfermline sites. You can read more about that here.
Changes to Representation Arrangements: What This Means for D+ colleagues
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 is now conducted through elected Employee Forums, rather than through collective consultation with Accord and Unite. (There are no changes for staff in grades A to C, where Accord and Unite will continue to collectively represent all colleagues).
Despite these changes, D+ colleagues have a right to union membership and the individual representation, advice, and support we provide remains unchanged. These are services that only a trade union like Accord can deliver. Employee Forums simply can’t offer the same level of expertise, advocacy, and personalised support. They are consultation bodies only.
Importantly, Accord has retained strategic engagement rights for colleagues in grades D to G, ensuring that the voice of our D+ members continues to be heard at the highest levels of the Group. This includes being informed and involved in discussions around restructures and other significant business changes.
If you’re an Accord member, rest assured that our high standards of advice and support remain unchanged. If you’re not currently a member of Accord or Unite we strongly encourage you to join Accord today. 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.
