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Insurance, Pensions & investments - Organisational Changes

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LBG has announced changes that will impact the Insurance, Pensions & Investments business (IP&I). The effect of the changes is that although 26 new roles are being created, unfortunately there will be a net reduction of 93 roles across the impacted teams. 

The colleagues impacted by the role reductions have already been briefed and Unite will continue to work with LBG with the aim of ensuring that there are no compulsory redundancies and where colleagues wish to remain with LBG they are redeployed into other suitable roles. 

LBG has indicated that it is intended that there will be a transition to the new organisational design over the summer months.

Alongside the role reductions referred to above, LBG has announced a new location strategy for IP&I. 

Going forward, IP&I will take a hub-based approach for core teams, where all future hiring will be focused into our five core IP&I hubs: Edinburgh, West Yorkshire, Bristol, London and Dundee. 

In Unite’s view, this will potentially have a negative impact on the career progression and aspirations of colleagues who are unable to relocate or travel to one of the new core hub locations. This decision appears to be reliant on the assumption that there will be sufficient talent in the locality of the core hubs and risks alienating colleagues with many years’ worth of accumulated skill and knowledge.

If you are impacted by today’s announcement and would like to talk it over with a member of the Unite team, then please contact us.

0808 144 9595


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