Bank group to export 1,000 jobs to India

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Lloyds TSB today said it was planning to transfer up to 1,000 jobs from the UK to India by the end of next year.

Lloyds TSB today said it was planning to transfer up to 1,000 jobs from the UK to India by the end of next year.

The banking group said it had decided to increase the number of so–called offshore staff it employs in locations such as Bangalore and Mumbai (formerly Bombay) to up to 2,500 from the current 1,500.

Lloyds TSB said it was confident it could achieve the transfers through natural wastage and redeployment of UK staff to other roles. It said the jobs would come from its insurance, Cheltenham & Gloucester, information technology and group operations activities.

However, unions attacked the move, saying they believed it would pave the way for the eventual transfer offshore of up to 10,000 jobs.

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