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Jobs to India – Insurance plan to move only 50 more jobs in 2005 but offshoring remains key
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Date: 9th Nov 2004
In February 2004 LTU reported Insurance’s intention to transfer up to 150 jobs to India by the end of the year. LTU said then that it expected this to simply lay the ground work for a substantially bigger transfer of work to India beyond 2004. Insurance itself has said that it expected the pace of transfer established this year to continue in 2005.
However, Insurance has now said that due to the scale of other developments taking place, such as Claims Re-engineering, its plans for 2005 will be scaled back and only 50 jobs will now be transferred.
Whilst this is sensible in the circumstances it does not mean that there is no longer any risk for Insurance staff from the Bank’s plans. On the contrary, Insurance has made clear that it is still central to the Bank’s offshoring strategy and that moving work to India to take advantage of lower staff costs is a key part of its future plans over the coming years.
At best therefore this a stay of execution and our campaign to keep Lloyds TSB jobs in the UK will continue.
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