Lloyds to warn 3,000 staff they face sack for ‘underperformance’

With economic uncertainty leading fewer people to leave, bank will put one in 20 on performance plans'

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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 the chief executive, Charlie Nunn.

The bank began telling managers over the summer that they would have to rank staff performance, with about 5% of Lloyds' 63,000-strong workforce due to be put on performance plans that would put jobs at risk unless workers notably improved.