Lloyds TSB axes 450 more IT staff in offshore move

Lloyds TSB is cutting 450 IT jobs as it moves more positions to India.


Lloyds TSB is cutting 450 IT jobs as it moves more positions to India.

The company is offshoring up to 250 permanent IT roles and 200 contractor positions, over a 12 month period from June. The permanent roles will be cut from the bank’s technology delivery division, which designs and develops software.

In a statement, it 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.”

Lloyds TSB said it would offer all permanent staff who are affected a position elsewhere in the business, and was providing a £2,000 training bond to help them learn new skills.

Trade union Unite reacted angrily to the news, saying Lloyds TSB’s decision represented “a lack of faith in the IT skills of their UK workforce”.

It said that employees in London and Manchester would be most affected, but other jobs would also go in Birmingham, Cardiff, Bristol, Haywards Heath, Gloucester, Andover, Edinburgh and Brighton.

The Lloyds TSB Union added that only 30 percent of IT jobs in the technology delivery division would be left in the UK, following on from 210 jobs offshored last year to Tata Consultancy Services, Cognizant and Wipro.

But it added that other divisions could be affected, following on from an offshoring review carried out by Lloyds TSB last year. “Once this phase of offshoring is complete, the union expects other areas of the information technology division’s 2,400 UK-based workforce to follow suit, with many hundreds more IT jobs transferring to India as a consequence,” it said.

The biggest concentrations of Lloyds TSB IT staff are based in London, where 1,300 IT employees work, Wythenshawe which has 460 staff, Gloucester with 150, and Birmingham and Bristol which each have 120 IT employees.

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