|
|
|
 |
Press Release: Lloyds Banking Group Announces 2,113 Job Losses Bringing Total To 7,500 Over Ten Week
|
Date: 30th Jun 2009
Today Lloyds Banking Group has announced a further 2,113 job losses resulting from the integration of Lloyds TSB and HBOS. That brings the total number of job losses announced over the past ten weeks to 7,500. The Bank has said that 1,380 jobs will be lost from its Group Operations Division and a further 733 jobs are to be made redundant in the Wholesale Division, which has seen 2,218 jobs lost already.
Despite announcing the worst cull of jobs we have seen since the merger, the Bank took the opportunity to rub further salt into staff wounds by reaffirming its Offshoring policy, including flying Indian staff to the UK to do the work of UK-based staff, and refusing to return jobs back to the UK.
‘Bangalore-On-Thames’
Lloyds TSB Group Union (LTU) - the independent trade union representing over 42,000 Lloyds Staff –
vigorously opposes the Bank’s ‘Jobs To India’ policy and believes that replacing existing UK-based staff with lower paid staff from India raises important concerns:
1. Unlike any other major employer, Lloyds Banking Group has taken Offshoring to a new low and now admits that its Offshoring Policy includes flying hundreds of Indian staff into the UK to do the work of UK-based IT staff. (please see previous Press Release at www.ltu.co.uk/newsletters/28)
2. 4,500 administrative and IT Lloyds TSB jobs have been Offshored to India in recent years and Lloyds TSB Group Union (LTU) demands that the Bank brings those jobs back to the UK so they can be filled either by staff who will be redundant as a result of the merger of Lloyds TSB and HBOS or other UK based workers.
3. The fact that 43.4% of the Lloyds Banking Group is owned by the taxpayer means the Bank now has a special onus on it to secure jobs for the UK economy and its citizens, reducing UK unemployment and limiting the impact of compulsory redundancy on Lloyds Banking Group staff.
4. The Government should use its shareholding in Lloyds Banking Group to force Senior Management to invest in and protect the interests of UK-based staff.
Union Comments
Commenting on the announcement of further job losses, Mark Brown, Assistant General Secretary at Lloyds TSB Group Union, has said:
"The Lloyds Banking Group is haemorrhaging jobs by the thousands, with 7,500 job losses announced over the last 10 weeks, but it still refuses to abandon its failed policy of Offshoring Jobs to India.
In fact, the Lloyds Banking Group has taken its Offshoring policy to a new low. Not content with Offshoring 4,500 jobs, the Bank is now flying in hundreds of Indian staff to work in the UK and take the jobs of UK-based staff. Such a policy is outrageous and must be stopped immediately.
LTU is calling on UKFI, which owns 43.4% of the Lloyds Banking Group on behalf of the UK taxpayer, to force the Bank to put a stop to the shabby practice of importing Indian workers to take UK jobs and instead insist that the Group invests in UK jobs and the UK economy."
LTU Steps Up Pressure Against Offshoring
LTU is stepping up its campaign to force the Lloyds Banking Group into abandoning its ‘Jobs To India’ strategy – both where this has involved the transfer of jobs to India and where it has used India-based staff to come to the UK and take on jobs that could otherwise be done by existing UK-based staff.
LTU will be writing MP’s again asking them to support the Union’s campaign and we will also be seeking an urgent meeting with UKFI to insist that it uses its 43.4% stake in Lloyds to force the Lloyds’ top management to act in the interests of UK jobs and the UK economy.
About Lloyds TSB Group Union (LTU)
Lloyds TSB Group Union (LTU) - with over 40,000 members – is the largest independent trade union representing staff in the Lloyds Banking Group.
Within the merged Bank, Accord would be the second largest union with over 20,000 staff and Unite the third, representing only approximately 8,000 staff across the two Banks.
For More Information
For more information, you can download a copy of LTU's latest Newsletter on job losses and Offshoring at www.ltu.co.uk/newsletters. If you would like more information you can contact either Pete O’Grady on 07880 747884 or Mark Brown on 07919 383467. If you prefer you can email them at Peter.Ogrady@ltu.co.uk or MarkBrown@ltu.co.uk respectively.
Mark V Brown
Assistant General Secretary
Lloyds TSB Group Union
 |
|
|
|
