Overview

• Managers have been told to rank employee performance and place underperformers on structured support programmes, the Financial Times reported.
• About 3,000 employees, roughly 5% of the 63,000 workforce, have been identified as at risk under the new review approach.
• Roughly half of those flagged could ultimately lose their jobs if improvement targets are missed, according to people cited by the FT.
• Lloyds plans to use Workday HR data to monitor progress and address a turnover rate near 5% versus a historical norm closer to 15%, according to the reports.
• The initiative is part of CEO Charlie Nunn’s broader transformation focused on efficiency and growth, alongside offshoring moves and previously announced 136 UK branch closures by March 2026.