Government owned Lloyds Banking Group has reduced the number of offshore workers by 1,750, but made 2,700 UK IT workers redundant at the same time.
The 4,500 cuts announced yesterday are related to the integration of the Lloyds TSB and HBOS IT operations.
According to the Telegraph, union Unite said the bank was moving hundreds of jobs abroad. If the case this would signal the end to Lloyds Banking Group's self imposed pause on offshoring. Back in July 2009 the bank said it would not offshore more roles.
Unite seems to think Lloyds Banking Group is going through another round of offshoring. But a Lloyds Banking Group spokesman told the Telegraph the bank commissioned "some" international workers but that there was no set plan by the company to switch UK jobs abroad.
I recently blogged about RBS, which is also state owned, and seems to be on an offshoring mission.
An RBS IT worker told me on a certain day recently the internal technology jobs board had 67 jobs on it. But only 6 were in the UK while the rest were in India.