Lloyds TSB to axe a third of its human resources positions

A transformation of Lloyds TSB’s Human Resources services delivery will see the loss of nearly a third of HR postions at the UK bank by the end of the year.

The bank aims to provide more tailored support to individual business units and strengthen the quality of its central service centres, at a cost of 280 HR roles. At present 900 of the bank’s 63,000 employees work in HR positions.

Lloyds said it hoped to achieve the changes through a combination of redeployment, not replacing people that choose to leave throughout the year and, voluntary redundancy.

Angie Risley, group HR director at Lloyds, said: “We believe we can build a world-class HR function and these changes are part of achieving that ambition. Changing the way we work will help in our drive to deliver simpler processes and provide a consistent, first class service to each of our businesses.

“There has been a lot of thought about these changes and we understand there will be a period of uncertainty for our employees. We will support every employee through this process and keep our team up to date as changes take place.

“Where possible we hope to achieve this reduction through natural turnover and redeployment and by voluntary means and we have an excellent track record in achieving this,” Risely said.

In October last year, The bank axed 100 permanent IT positions and ceased using 110 temporary IT contractors following an internal review.