Lloyds Bank to offshore 90 IT jobs

Lloyds Bank has announced it will send about 90 IT jobs offshore, in a move that will boost its operations in India.

The outsourcing is part of the bank’s 2014 Group Strategic Review, when it warned 9,000 jobs will be cut, of which 625 were identified yesterday.

The cuts will affect workers in the bank’s legal, commercial banking and risk divisions, as well as those in the IT department, where the offshoring will swallow 82 IT jobs.

The Unite union attacked the losses, due to hit Lloyds’ back office sites in London, Brighton, Gloucester, Leeds, Halifax and Wolverhampton. And it called the offshoring “disastrous”.

“It is alarming that Lloyds is continuing to offshore IT roles in the name of driving down cost,” added the union’s John Morgan-Evans.

“This simply means that the bank wants to pay an IT worker in India less for the same work carried out in the UK.”

He believes that as well as impacting Lloyds’ workers, including staff unaffected by the new losses who he said are already stressed and overworked, the offshoring will hit customers too.

Unite said: “Recent IT ‘glitches’ across the major banks have proven that offshoring IT support in the name of cost inevitably impacts both the bank and customers.” 

But a Lloyds spokesman was widely quoted yesterday as saying the bank is “committed to working through these changes” to its workforce, in a “careful and sensitive” manner.

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