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7,500 Job Losses & Bank Still Committed To Offshoring Strategy
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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 largest 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 IT staff, and refusing LTU’s demand to return jobs back to the UK.
Mark Brown, Assistant General Secretary says "The Government has important question to answer
over why, when it owns 43.4% of the Lloyds Banking Group on behalf of the UK taxpayer it is not using that influence to force Lloyds into investing in and protecting the jobs of UK-based staff."
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