Lloyds faces potential job cuts for employees
Thousands of Lloyds staff may face job cuts as the bank targets lower-performing employees to improve performance at work
Employment Law partner Jonathan Mansfield commented on the situation stating “This is certainly a muscular approach at Lloyds to urge employees to up their game. The bottom 5% of performers will be put at risk of dismissal.” He emphasised that while performance standards can shift with business needs, they must be applied fairly. For employers to avoid unfair dismissal claims, Mansfield outlined two key requirements. He explained that employees must be clearly informed about performance expectations and improvement areas, stating that “vague and generalised criticisms will be challenged.” Additionally, employees should be given time to improve, with appropriate warnings, appeal options, and the right to have a companion present. While some employers may prefer a settlement to expedite the process, he cautioned that this could lead to undue pressure and highlighted that a well-managed settlement can benefit both parties by minimising stress.
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