Angie Risley, the HR Director of the British banking group Lloyds (Lloyds Banking Group - LBG), lost the position directly under the CEO during reorganization of the group's senior management. Together with the department of law and audit HR moves into a newly created division of "corporate functions" which will be headed by its own director responsible directly to the CEO. The HR Director, therefore, moves from the B-1 level to the B-2 level.
In a statement to the server hrmagazine.co.uk the bank sais that this step will not reduce the impact of HR on the company but rather increase it. The group's CEO António Horta-Osorio, who recently returned to work after two months of medical leave due to extreme exhaustion, said: "Because we created the position of Director of Corporate Functions, we can focus more on areas such as is HR, law and audit, which are necessary for the transformation of the group. "
LBG reported a loss of 3.85 billion pounds during the first three quarters of 2011. From the onset of the economic crisis more than 25 thousand employees have been dismissed. The CEO has just waived his 2011 bonus due to the unfavorable economic situation and performance of the group.
-Kk-