Back office administration jobs are at risk

The bank's Swansea unit could lose 211 jobs, with 126 posts facing the chop in Plymouth, 38 in Cardiff, 55 in Taunton and 35 in Stockton.

Back office administration jobs will take the brunt of the cuts as the bank plans to transfer work to larger sites.

Lloyds denied that the cuts were linked to the outsourcing of offices to India.

Offshoring 'victims'

The UK's fifth-biggest bank said work would be shifted to larger company sites in Glasgow, Manchester and Birmingham.

The changes are in no way linked to offshoring Lloyds TSB Check Lloyds TSB's share price

In response to the announcement, the Lloyds TSB Group Union said offshoring had created surplus capacity and that was why the larger sites were able to take the work.

Staff currently at risk of losing their jobs were "victims of offshoring by proxy", the union said.

But Lloyds TSB reiterated: "The changes are in no way linked to offshoring."

Last year, Lloyds TSB said it would create up to 1,000 more jobs in India, many of which would replace positions previously filled by UK workers.

The bank said it expected to have up to 2,500 employees in India by late 2005.

Shifting jobs abroad can offer huge savings to companies, and financial services firms have led the exodus from the UK.

In India, UK banks can pay graduates as little as $200 (�106) a month to work in administration and answer customer calls.