Lloyds TSB is to shut down its
back office processing centre in Peterborough, which will result in
the loss of 245 jobs.
Media reports say the site will close by the end of the year,
and that the work will be transferred to other Lloyds TSB sites
across the UK.
The move is part of the bank’s plan to consolidate its back
office operations to save money.
Representatives from the Lloyds TSB Group Union, the main
employee union at the firm, have claimed the job cuts are linked to
the company’s increasing
Indian offshoring programme, but Lloyds TSB has denied
this.
Lloyds TSB already employs around 2,500 staff in India, and this
number is expected to increase by around 400 this year.
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