Lloyds TSB cuts 566 back office jobs

British bank Lloyds TSB is cutting 566 jobs from five back office processing centres in the UK and also plans to offshore an additional 105 roles to its operations in India.

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Lloyds TSB cuts 566 back office jobs

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The changes will affect 206 back office staff at the bank's Hays Lane operations in London, and 102 posts in Tonbridge, although both sites will remain open.

But the bank is closing its processing centres in Glasgow, leading to the loss of 125 jobs, Chorley where 94 staff are affected, and Newton Aycliffe in Country Durham which will affect 39 staff.

Lloyds TSB says the work from these units will be transferred to larger sites in the UK, as part of an ongoing process to cut operating costs, and that "many staff" will be redeployed.

The latest upheavals are in addition to those signalled in November last year when the bank said it was cutting 465 jobs and closing down five small back office processing centres in the UK and shifting the work to larger centres in the country.

Under plans to streamline operations in the UK, Lloyds TSB is also shifting 105 UK roles to its operations India, where it currently employs around 2500 staff. Around 90 of the jobs will come from the bank's service centre in Andover, although it says work moving into Andover from other UK sites means there will be no job losses for staff at the unit.

In addition, work done by 15 staff at the bank's word processing centre in Newton Aycliffe will also move offshore. The bank says these staff will be guaranteed the offer of another job within the group.

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