Lloyds TSB is offshoring as many as 450 extra UK IT jobs from the Technical Delivery part of its IT division to India. The move puts 250 permanent workers at risk of redundancy.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
The bank has said that it wants to utilise the skills of outsourcers.
"Information technology is the backbone of our business, and by combining the diverse skills of our staff with those of other companies, we can provide the best possible service to our customers," the bank said in a statement.
Steve Tatlow, assistant general secretary at Lloyds TSB Group's union, said the move is aimed at cost cutting.
"The transfer of yet more jobs to India shows a complete disregarded for corporate social responsibility by senior management. It shows no hesitation in making redundant the jobs of its existing UK staff merely because it can replace them with lower-paid workers in India.
Since 2003 when Lloyds TSB first announced its offshoring plans, it has exported as many as 3,000 UK jobs to India.
A Lloyds TSB spokesman said the bank will offer all 250 permanent staff new roles within the company.
"We have announced that we will offshore up to 250 permanent IT roles, but we want to keep these staff so we are guaranteeing them the offer of another job with the group," said a Lloyds TSB statement.