The Lloyds Banking Group is cutting an extra 2,100
jobs.
The cuts will be in the bank's operations and wholesale banking
operations and add to the thousands of redundancies already
announced this year.
However, the bank said it will stop offshoring jobs in certain
areas. "The group is also announcing its decision not to offshore
any further permanent existing operational roles, therefore keeping
roles in the UK whenever possible," it said.
The union representing workers at Lloyds TSB has been
calling on the bank to stop offshoring jobs and bring jobs
currently offshored back to the UK.
But Steve Tatlow, assistant general secretary at the Lloyds TSB
union, said the announcement of a halt to offshoring is
meaningless. "We asked the bank whether the current 4,500 jobs
offshored to India now would be the maximum and they would not say
yes."
Banks rely heavily on IT to support their operations and Lloyds'
plan to combine operational support functions, including payment
and business services and banking operations will see IT roles
disappear.
On top of this, the Lloyds Wholesale division is merging its
Lloyds TSB and Bank of Scotland businesses in England and
Wales.
"Following these changes, up to approximately 2,100 roles will
be affected over the next three years," said Lloyds.
The Lloyds TSB union recently accused the management of causing
"death by a thousand cuts." Tatlow said there is no end in
sight for job cuts at Lloyds.