'Up their game' | 3,000 Lloyds employees at risk of dismissal for underperformance

Lloyds Banking Group has warned up to 3,000 employees that they are at risk of being dismissed for underperformance, in a move that marks one of the most significant performance management shake-ups in UK banking.

The change is being driven by chief executive Charlie Nunn and will see managers required to rank staff across the organisation. About 5% of the bank’s 63,000-strong workforce will be placed on performance plans. Unless they show marked improvement, roughly half could ultimately lose their jobs.