Lloyds to warn 3,000 staff they face sack for underperformance'

"Lloyds Banking Group is to warn 3,000 staff that they are at risk of being sacked for underperformance, as part of a management overhaul led by the chief executive, Charlie Nunn. Bosses have been instructed to rank staff performance, with about 5% of its 63,000-strong workforce due to be put on performance plans that will put their jobs at risk unless they notably improve. About 1,500 of those put on notice could end up losing their jobs."

"As we build highly skilled teams to move faster forward and deliver great outcomes for our customers, we are striving to embed a high-performance culture in the organisation. To achieve this, and in line with wider industry practice, we continuously look for ways to help our colleagues perform at their best. 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."

"Ged Nichols, the general secretary of the Accord union that represents Lloyds workers, said the union had not heard of any managers having yet been asked to rank staff. There has been an increased focus on performance in Lloyds Banking Group this year with more use of the structured support plans to help individuals who may be falling short of their performance objecti"

Lloyds Banking Group will warn about 3,000 staff they are at risk of being sacked for underperformance as part of a management overhaul under chief executive Charlie Nunn. Managers have been instructed to rank staff and roughly 5% of the 63,000-strong workforce will be put on performance plans that could endanger their jobs unless they improve. Around 1,500 employees on notice could lose their positions. Executives will monitor progress via HR software to address low turnover among the lowest performers, with annual departures below 5% compared with a 15% historical average. Nunn's five-year plan targets income diversification, digital adoption and business tightening.

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