Barclays has become the first UK bank to reach a deal with unions over moving jobs to low-cost countries. Banking union Unifi has been told that Barclays workers will get at least three months notice and three months pay if they lose their jobs.
Barclays has so far moved about 500 jobs abroad but unions are worried up to 6,000 jobs could be transferred.
A number of firms have transferred call centre jobs to countries such as India in a move to trim costs.
HSBC is moving 4,000 UK jobs to India and China, while Lloyds TSB is moving 750 call centre posts to India.
And not only banks are shifting work abroad. Last year insurance firm Norwich Union announced plans to move more than 2,000 jobs to India.
'Pragmatic' approach
Barclays has agreed measures to help those losing their jobs find alternative employment within the bank and will also fund staff retraining.
"The approach, which builds on the existing partnership principles with Unifi, ensures extensive consultation ahead of major decisions which may affect employees," said Barclays.
Unifi's Dai Davies denied the union had sold out by agreeing the deal, insisting it was taking a "pragmatic view".
"We've still go the opportunity of putting cases to Barclays about not off-shoring jobs," he told BBC Radio 4's Today programme.
Mr Davies denied that moving jobs abroad was an "inevitable" trend, but said that if Barclays did decide to shift work overseas "we've got an opportunity of talking to them early about it instead of getting a fait accompli."