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Home > India > Business > PTI > Report

Lloyds TSB to offshore 450 jobs to India

May 16, 2008 11:26 IST

Lloyds [Get Quote] TSB, British bank major, has decided to move 450 information technology jobs, 250 of them permanent, to India provoking immediate hostility from bank unions.

A Lloyds TSB spokesperson said: "Information technology is the backbone of our business and by combining the diverse skills of our staff with those of other companies we can provide the best possible service to our customers.

"We've announced that we will offshore up to 250 permanent IT roles, but we want to keep these staff so we're guaranteeing them the offer of another job with the group."

Bank union Unite official John Bancroft said, he was disappointed with the news. He said: "Unite has an off shoring agreement with Lloyds TSB which states the union will be consulted before any off shoring decisions are made and that there will be no compulsory redundancies.

"We will be working to ensure that staff in the bank are offered suitable alternative employment and that their terms and conditions are protected."

The job cuts will affect offices in London, Manchester, Birmingham, Bristol, Haywards Heath, Gloucester, Andover, Edinburgh.

Criticising the move, the Lloyds TSB Group Union said, in the six IT platforms affected, only 30 per cent of jobs would be left in the UK, and it expected more of the IT division's 2,400 workforce to be progressively impacted.

The union said: "The transfer of yet more jobs to India shows a complete disregard for corporate social responsibility by senior management.

"It shows no hesitation in making redundant the jobs of its existing UK staff merely because it can replace them with lower-paid workers in India."

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