Lloyds Banking (LYG) will scrutinize around 3,000 of its 63,000 employees for possible dismissal over poor performance, news outlets reported Wednesday, citing sources familiar with the matter.

Lloyds expects to cut about half of the poor performers unless their work improves, Reuters reported, according to an unnamed source.

"We are transforming our business," a Lloyds spokesperson said in a statement emailed to MT Newswires. "We are striving to embed a high-performance culture in the organization. To achieve this, and in line with wider industry practice, we continuously look for ways to help our colleagues perform at their best."

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