Finance
Lloyds Is Auditing Thousands of IT Staffers’ Technical Skills
- Bank is upgrading technology and needs to redistribute staff
- Hundreds of employees could lose jobs, people familiar say
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Lloyds Banking Group Plc is assessing the skills of thousands of technology staffers in the UK to determine whether they can keep working at the bank once it upgrades its technology.
The British lender, which is carrying out a multiyear overhaul of its systems, put these workers on notice this month that they are at risk of losing their jobs and will be required to reapply for new positions across the bank, according to people familiar with the matter.