Lloyds TSB offshoring more back office jobs

Smaller processing sites consolidated as well

Lloyds TSB is offshoring another 105 jobs to India as it consolidates its back office processing operations across the UK.

The banking group said it is closing a word processing operation which employs 15 staff. But, under the terms of an agreement with the unions, the bank promises to offer another job to anyone whose role is offshored.

The other 90 jobs will come from a service centre in Andover, although the bank said that work from other parts of the group would be transferred there instead, so no jobs would be lost.

The bank currently has around 2,000 staff in India.

At the same time the bank said it is consolidating a number of smaller processing sites to increase efficiencies. Three will be closed while two others will be reduced in size, with the plans putting 566 jobs under threat.

But the bank said that is hasn't had to make any compulsory redundancies so far during this reorganisation programme.