Lloyds Group digital plan ‘puts 2,500 jobs at risk’

About 2,500 jobs are at risk at Lloyds Banking Group plc (LBG) — owner of Bank of Scotland, Scottish Widows and Halifax — according to reports in several London newspapers.

The UK’s largest high street lender, which has has about 60,000 staff, is preparing to restructure its business to focus on digital services.

The reports said LBG is understood to be considering axing a series of middle-management roles including analyst and product management posts as part of a consultation that is expected to be shared with staff in the coming week.

The Guardian said sources inside LBG indicated that, while 2,500 roles are being reviewed, management hope the number lost will end up being lower.

A spokesperson for LBG said: “We are evolving our business to ensure we can do more for our customers and deliver the products and services they need.

“To achieve this, we’re delivering one of the largest transformations in UK financial services which includes reviewing how our business and technology teams work together effectively to deliver on our strategy and long-term growth.”