 Lloyds wants fewer, larger offices around the country |
High Street bank Lloyds TSB is to cut 566 jobs as it attempts to reduce costs in its back office operations. Posts will go in London and Tonbridge in Kent and will also see three offices close in Glasgow, Chorley in Lancashire and Newton Aycliffe in County Durham.
Lloyds TSB is also relocating hundreds of staff in Birmingham, Bristol and Brighton as part of a strategy to operate fewer, larger offices.
The bank has a plan to cut its back office costs by �121m a year by 2010.
Jobs to India
The changes will see 105 posts, 90 of them from a site in Andover in Hampshire, being transferred to India, but the bank is promising to retrain and redeploy the staff affected.
Unions say that the bank will move up to 400 jobs to India this year and has plans to "offshore" many more.
The bank will start the job reduction process this month, and hopes to have completed the changes by March 2007.
"We have an extremely good track record of acheiving reductions in staff numbers by natural turnover and redeployment and when we've made these changes in the past we have never had any compulsory redundancies", said a Lloyds TSB spokesperson.
Last month Lloyds TSB announced a 4% rise in pre-tax profits to �3.47bn, but said bad debts had hit its High Street operations.
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