Lloyds Banking Group has initiated a review of its UK technology and engineering professionals, leading to anticipated headcount reductions as roles are reassessed post-digital transformation. Employees were notified of the review on February 5, and must submit additional information about their qualifications by February 12. The bank is expected to create a new structure by April 1, although existing roles may no longer be suitable. Additionally, around 1,200 new positions will be introduced in specific tech fields, although job cuts among current staff are likely.
Staff were informed by line managers about potential job changes and a review of their roles in Lloyds Banking Group's UK operation due to digitization.
Lloyds Banking Group has launched a review of its technology roles in the UK operation, resulting in inevitable headcount reductions and some roles offshoring to India.
Insiders indicate that Lloyds considers job functions have changed due to a digital transformation, leading to a reassessment of UK-based tech roles.
Post-reorganization, Lloyds anticipates creating 1,200 new roles in various tech sectors such as Software Engineering and Data Engineering, despite job cuts.
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