Thu, 04 Sep 2025

Thu, 04 Sep 2025 Thousands of Lloyds staff deemed to be underperforming face axe

Lloyds Banking Group's policy puts 3,000 jobs at risk, with staff to be told they must improve their work or lose their job.
Lloyds Banking Group faces criticism as it reveals plans to make thousands of staff redundant due to underperformance. Approximately 3,000 employees are at risk, with around 1,500 expected to lose their jobs. The bank claims this move is part of a performance shake-up aimed at embedding a "high-performance culture". However, the BTU union has warned that the policy could lead to staff being "hounded out of the business", while Accord Union has asked Lloyds to reassure employees about the integrity of its performance management processes. The plan mirrors a strategy known as "rank and yank" popularized by General Electric's former CEO Jack Welch, which involves ranking employees based on their performance and removing those at the bottom.
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