Lloyds Banking Group (LBG) — which owns Bank of Scotland, Scottish Widows and Halifax — is to warn about 3,000 of its staff that they are at risk of being sacked for “underperformance.”

A performance review process under LBG CEO Charlie Nunn could see as many as 1,500 staff dismissed.

Roughly 5% of Lloyds’ 63,000 workforce are expected to be put on performance plans that would lead to dismissal unless workers improve their performance.

Executives will monitor progress using HR software. LBG is attempting to tackle low turnover among the bank’s “lowest performers.”

Fewer than 5% of Lloyds staff are understood to be leaving the group every year — compared to a historical average of 15%.

LBG said the move — first reported by the Financial Times — was part of efforts to embed a “high-performance culture” in the organisation.

“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,” said an LBG spokesperson.

“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.”