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Lloyds TSB to move 1,500 jobs to India
London, Sept 25: British bank Lloyds TSB plans to create about 1,500 jobs in India by moving some back-office operations there, British newspapers reported on Thursday, citing a memo to staff.
London, Sept 25: British bank Lloyds TSB plans to create about 1,500 jobs in India by moving some back-office operations there, British newspapers reported on Thursday, citing a memo to staff.
In the memo the bank told its employees it would expand its existing Bangalore operation and create a new one at Hyderabad. The Daily Mail newspaper cited the memo, saying the resulting job losses in Britain would be managed without compulsory redundancies, but "at this precise time we cannot be precise about the likely impact on jobs in the UK."
A number of British financial and customer service companies have moved operations to India from the UK in recent years to take advantage of the relatively cheap, skilled English-speaking work force there. Bureau Report
In the memo the bank told its employees it would expand its existing Bangalore operation and create a new one at Hyderabad. The Daily Mail newspaper cited the memo, saying the resulting job losses in Britain would be managed without compulsory redundancies, but "at this precise time we cannot be precise about the likely impact on jobs in the UK."
A number of British financial and customer service companies have moved operations to India from the UK in recent years to take advantage of the relatively cheap, skilled English-speaking work force there. Bureau Report