Lloyds Bank has revealed sweeping changes across its operations, impacting more than 1,000 roles as part of a strategy to cut costs and accelerate digital transformation.
The announcement includes the closure of a second office in Scotland, following earlier plans to shut a site in Liverpool.
The Accord union, which represents thousands of Lloyds employees, confirmed that approximately 1,300 roles within the bank’s consumer relationships division are under review.
While some positions will be eliminated, others will be created as part of the bank’s restructuring efforts. Final numbers of at-risk roles will be determined after selection processes are completed.
Ged Nichols, general secretary of Accord, stated: “Accord has reached out to every member impacted to provide support and guidance. Our focus remains on minimising compulsory redundancies and ensuring members leaving the business receive their full redundancy compensation under union agreements.”
As part of the overhaul, Lloyds has announced the permanent closure of its Dunfermline office in Scotland next year. The site employs around 1,500 people, who will be given the option to work from home or relocate to the Citymark building in Edinburgh.
A Lloyds spokeswoman explained the rationale behind the changes, saying: “To achieve the ambitious strategy we launched in February 2022 and deliver a better service to our customers, we are transforming our business. To move forward faster, we hired 10,000 experts last year and will continue exploring all options to ensure we remain well-placed to meet customer needs.
“Transformation involves creating new roles and upskilling colleagues in some areas, but it also means saying goodbye to talented people who have contributed to the group’s success. Where this is unfortunately necessary, we will do everything possible to support those affected.”
The changes reflect Lloyds’ focus on digitisation and operational efficiency as it navigates a rapidly evolving banking landscape.
