210 IT jobs to move to India as Lloyds TSB axes permanent and contractor posts in UK

Lloyds TSB is to offshore a further 210 UK jobs to India from October, it confirmed yesterday.

The bank has decided to axe 100 permanent IT positions and stop using 110 temporary IT contractors following an internal review. The replacement jobs will be filled by outsourcing firms Tata Consultancy Services, Cognizant and Wipro in India.

“Every single permanent member of staff will be guaranteed a job elsewhere within the company,” said a spokesman. “We expect to manage the entire process through this and voluntary redundancies.”

But the National Outsourcing Association admitted that Lloyds TSB may be left with a morale problem. “Although Lloyds is trying to the do the right thing, staff may feel demoralised and their trust in the organisation somewhat diminished,” said a spokesman.

“The bank has negotiated an agreement with [trade union] Unite to offer alternative positions to all staff, but not all these jobs are in IT, which will mean re-training old IT staff to fit new roles.”

Lloyds TSB last year signed a deal with outsourcing provider Xansa to provide HR services for the bank from India.

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