Lloyds Banking Group will put thousands of its staff at risk of dismissal, with the UK bank’s lowest performers set to be told their work must improve or they face the axe.
The bank plans to overhaul how it manages the performance of its 63,000 employees, according to people with knowledge of the plans, with about 3,000 people deemed among the bottom 5 per cent set to be put at risk of dismissal. About half of those could lose their jobs, the people added.
This is how the 10% in bp will be managed out with the new performance review system.. starting next year (the article also says the bottom 5% will be put on improvement plans..hmm where did i hear that before).. nothing new across industry and the above is wat cheaper than current redundancy programme.. don't say you were not warned !!!