Over 6,000 IT staff at Lloyds Banking Group are set to learn their fate today, following weeks of uncertainty after the high street lender-placed their jobs under review.
Line managers are scheduled to hold one-on-one meetings with employees this morning, with a company-wide announcement expected in the afternoon.
Despite an anticipated net increase of around 1,200 IT vacancies, not all existing staff are guaranteed a place. Many face potential job losses due to role relocations that make commuting impractical, the elimination of certain positions, or the introduction of new roles requiring more specialised skills.
This restructuring is part of CEO Charlie Nunn’s broader digitisation strategy to modernise the bank’s IT operations. However, the timing has raised concerns, as IT staff have been working tirelessly to manage high-profile system outages—an issue currently under scrutiny by MPs on the Treasury Committee.
Lloyds was among several banks hit by major online banking disruptions in late February, preventing customers from logging in or processing payments. Lawmakers are increasingly worried about the resilience of Britain’s banking IT systems, noting that customers have experienced the equivalent of more than a month’s worth of outages in the past two years.
Lloyds said:
“Making changes means not only creating new roles and upskilling colleagues but also saying goodbye to talented people who have been part of the group’s success in the past. Where that is the case, we will do everything we can to support them with the changes recently announced.
“We know change can be uncomfortable, but we are excited about the opportunities ahead as we propel forward to achieve our growth ambitions and delivering exceptional customer experiences.”
One of Lloyds’ staff unions, Accord, has declined to comment on the reshuffle until employees have been officially informed.
