Cook the diced bacon in a large skillet over medium heat until crispy. Remove the bacon pieces with a slotted spoon and set them aside, leaving the drippings in the pan.
Add the beef chunks to the skillet and brown them on all sides in the bacon drippings. Transfer the beef to the slow cooker.
Place the onions and garlic in the same skillet and cook for a few minutes until the onions soften. Add this mixture to the slow cooker.
Add the potato chunks, sliced carrots, beef broth, thyme, bay leaf, Worcestershire sauce, salt, and pepper to the slow cooker. Stir gently to combine.
Cover and cook on low for 8 hours until the beef is tender.
Remove the bay leaf. Stir the reserved bacon pieces into the stew just before serving.