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Lloyds TSB to move 300 C&G jobs to India
BANKING giant Lloyds TSB is to close an office of its mortgage provider Cheltenham & Gloucester and move about 300 jobs to India.
C&G's mortgage administration and customer service site near Warwick is to close by the end of 2006 and transfer the work to two other UK sites and India, where the bank has already transferred 2000 jobs.
The centre employs 350 people and Lloyds said it would aim to redeploy them across the group.
Mortgage and customer services director at C&G Mike Mitchell said:
"We operate in a fiercely competitive environment, and it is vital that we find ways of running our business effectively and competitively in order to continue to invest in the services and products we provide."
Lloyds TSB Group Union said the bank had admitted "redundancies will be necessary" and slammed the transfer of more jobs to India, where the bank could employ staff for one-sixth of the UK salary.
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