Whether or not your grade will be relevant will depend entirely on what the requirements are for the job you are applying for and how many other better qualified candidates are competing with you.
rewt is mostly correct. Of course the degree matters but real experience is significantly more important. If you have good relevant experience and a good degree, you are likely to be a good candidate for an interview.
This is because, the vast majority of jobs do not need particularly high levels of skill which would justify recruiting a PhD or someone with a 1st class hence this move away from demanding only the top grades for those types of roles. To be honest, I don't understand why companies who, for example, require people like human resource administrators, computer programmers or those working on the production facilities of chemical and biochem factories, don't simply hire motivated school leavers and train them up at a fraction of the wage of someone with a 2:2 who quite frankly is going to be just as useful on day one.
I would suggest that those hiring the very best employees for highly skilled roles will be as demanding as ever as regards grades.