Network Rail is redeveloping London Bridge in phases after the Olympics. There will be changes to the way the track is laid out as well to reduce the bottlenecks that plague the area. By the time work is completed in December 2016, 50% more passengers will be able to pass through in the peak (that’s 60,000 people an hour).
The station won't have to close during this work but plans suggest First Capital Connect services will not be able to call there after the Olympics, from October 2012 to make space for building works which require a number of platforms to be taken out of use. Instead they would be diverted via Herne Hill. We'll keep you updated!

Above: Existing and artist impression of Tooley Street

Above: Existing and artist impression of Thomas Street
Above: Existing and artist impression of London Bridge main platform concourse