Lloyds TSB says 450 IT jobs to move to India

Wed May 14, 2008 4:18pm BST

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LONDON (Reuters) - Lloyds TSB is to transfer up to 250 information technology staff and 200 contractor roles to India, it said on Wednesday.

The bank said the staff are part of its IT division's technical delivery function, where they design and develop software, and will start moving from June.

The Lloyds TSB Group Union slammed the plans, coming just weeks after the government pledged more financial support to the banking industry during the credit crunch. It said Lloyds has exported up to 3,000 UK jobs to India since 2003.

Lloyds employed almost 70,000 people at the end of last year after cutting thousands of staff in recent years as it pushes through cost savings.

(Reporting by Steve Slater, editing by Elizabeth Fullerton)

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