Will new roles be created as part of the Lloyds changes?

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New roles will be created as part of the Lloyds organisational changes.

Lloyds is undertaking an organisational review that will lead to the creation of 120 new roles. This process is part of a broader shake-up that also places approximately 2,500 existing jobs at risk. The bank is examining its operational structures and team functions as it evolves its business to better serve customers.
Creation of 120 New Positions

As part of the ongoing business transformation, Lloyds plans to establish 120 new roles. These positions are being introduced as the bank reassesses its operational framework and team dynamics.
Review of Team Structures

The shake-up involves a comprehensive review of how various teams within the bank operate. This reassessment aims to align the bank's structure with its strategic goals and customer service objectives.
Consultation with Staff

Lloyds is preparing to initiate consultations with staff across a range of roles, including analysts and product managers. This process will determine the impact on existing positions, with many employees potentially undergoing a selection process.
Broader Cost-Cutting Context

This organisational review occurs within a wider industry trend of lenders seeking to reduce costs. Competitors, such as Barclays, are also reportedly exploring significant job cuts and cost-saving measures to navigate current economic pressures.

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Will new roles be created as part of the Lloyds changes?

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