Newsletters From BTU
Pension Deficit Contribution
Lloyds made a total of £2.2bn of pension scheme deficit reduction contributions in 2022. Those contributions were made to the group’s three main defined benefit (DB) pension schemes. Fixed deficit reduction contributions of £800m were paid in full during the first...
What’s The Next Move?
Some members will be happy to return to office working, particularly on a hybrid basis. The biggest danger for those who don’t want to or can’t is that, outraged by what Lloyds is demanding, they repudiate their contracts of employment by refusing apparently...
Fast Tracking Performance Dismissals
A few weeks ago, the Bank launched its new redundancy policy, which will see payments slashed for those staff who refuse the offer of a ‘reasonable’ alternative role (as defined by the Bank of course) or reskilling opportunity. Lloyds has now announced - although...
The Effects Of Dishonest Management
The Bank has announced its plan that by September 2023, there will be a mandatory requirement for all non-branch staff to spend 40% of their work hours in an LBG office location. The Bank has also introduced a pilot in the Consumer Lending and People & Places...
The Cost Of Doing Business
Just before Easter, Lloyds announced the closure of 39 more branches across the Lloyds, Halifax and Bank of Scotland Networks. At almost exactly the same time, Barclays and NatWest announced that they were also closing more branches. It can’t just be coincidence that...
Mr Nunn’s Remuneration Enumerated
Ms Harriett Baldwin MP, Chair of the Treasury Select Committee, recently wrote to Mr Charlie Nunn, Lloyds Banking Group Chief Executive, regarding how his pay and bonus package was linked to the performance of the Group. The clear implication of her letter was that...
Letter To Chris Cummings – Lloyds Banking Group – Executive Pensions
Letter To Harriett Baldwin MP – Mr Charlie Nunn – Remuneration
Judge & Jury
The job security appeal for a member of staff who’s refused the bank’s offer of a ‘reasonable alternative’ role is being heard by the same local HR management that is trying to force him into the role in the first place. When it launched the new redundancy policy, the...
Who Is Responsible For Customers?
In a previous Newsletter, we reported that Lloyds had got rid of its Fire Marshals with effect from 1st January 2023 following an agreement with its in-house staff unions – Accord and Unite. According to the new policy, it would be everyone for themselves when it...
BTU Newsletters
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