Lloyds warns 3,000 staff they face sack for ‘under-performance’

Around one in 20 staff face ‘performance plans’ as bank seeks to remedy low turnover among some employees

Business live – latest updates

Lloyds Banking Group is to warn 3,000 staff that they are at risk of being sacked for underperformance, as part of a management overhaul led by chief executive Charlie Nunn.

Bosses have been instructed to rank staff performance, with about 5% of its 63,000-strong workforce due to be put on performance plans that will put their jobs at risk unless they notably improve. About 1,500 of those put on notice could end up losing their jobs.