BusinessCompany NewsLloyds TSB to outsource up to 2,500 jobs

Lloyds TSB to outsource up to 2,500 jobs

Lloyds TSB Group is planning to outsource up to 2,500 back-office jobs to India by the end of 2005, many of which will replace positions currently filled by UK workers.

Link: Offshoring to benefit UK

Jobs affected by the outsourcing plans are principally in the group’s general insurance operations, IT and mortgage departments, however, the bank stressed that any UK workers whose jobs were moved would be redeployed within the group.

A spokesman for the bank said: ‘We are very committed to keeping staff informed and to try and re-deploy staff elsewhere within the group.’

The news comes only a day after Digby Jones, director general of the CBI, told delegates at the trade body’s annual conference in Birmingham that low-skilled employees could be out of a job within a decade, as more UK companies outsource their resources abroad.

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