Lloyds Bank to cut hundreds of jobs and shut offices as part of major overhaul
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Lloyds Bank has revealeda series of major changes across the group, affecting over 1,000 employeesas it continues it drive to cut and push forward with digital banking. Following the announcement of an office closure in Liverpool, it also confirmed that a second office in Scotland will be shutting down. The Accord union, which represents thousands of Lloyds employees, said about 1,300 roles were being put up for review within its consumer relationships divisions.
Hundreds of roles will be removed, while new ones will be created as part of the overhaul. The number of roles at risk will be finalised once the selection processes have completed. Ged Nichols of Accord said: "Accord has contacted every individual member who is impacted to offer support and advice.".
He further emphasised the importance of reducing forced redundancies and ensuring that those who do leave receive redundancy under union-negotiated agreements. Lloyds also declared that their Dunfermline office in Scotland is scheduled for permanent closure next year. Approximately 1,500 employees at the Dunfermline site are now facing decisions about working from home or transferring to Edinburgh's Citymark building.
A spokesperson for Lloyds elaborated on the need for these transformative actions: "To achieve the ambitious strategy we launched in February 2022 and deliver a better service to our customers, we are transforming our business. "To do this and move forward faster, we hired 10,000 experts last year to drive our transformation and we will continue to look at all options to ensure we are well placed to deliver for our customers.
