Lloyds Banking Group is sending jobs to Indian offshore
service provider HCL as it gears up to cut another 810
jobs.
The move follows Equitable Life's termination of its
administration services contract with HBOS, part of Lloyds banking
group.
Equitable Life has now awarded the $200m contract to HCL
Technologies.
A spokesman at Lloyds Banking Group said as a result of the loss
of the contract, 340 jobs will move to HCL, with only 100 of these
set to be retained.
Additionally, in 2011 Lloyds Banking Group plans to reduce
processing work at Aylesbury and move it to other processing
centres. "We have looked at the organisation and decided that 570
people in Aylesbury will be made redundant."
Earlier this month Lloyds Banking Group announced it was
reducing the number of staff in its operations division.
Lloyds plans to reduce the number of people working in
operations, of which a large part is made up of IT staff, by about
2,800 by the end of 2010.
In May union Unite accused the bank of having a policy of a
death by a thousand cuts.
HBOS, now part of the Lloyds banking group, has provided
administration services to Equitable Life from Aylesbury for about
10 years.