Menu
Lloyds TSB job cuts hit IT

Lloyds TSB job cuts hit IT

Bank promises end to operational offshoring

Lloyds TSB will cut 2,100 jobs, in a move set to hit IT and back office roles.

The announcement, which will also affect staff in its business banking division, states that the jobs will go over the next three years, and follows on from 965 cuts announced in April.

Lloyds TSB is combining operational support functions with those of HBOS, with which the group merged in 2008. It is also combining Lloyds TSB and HBOS business banking divisions.

The new job cuts are part of a review that took place last year within HBOS, in which Lloyds Group announced plans to cut £1.5 billion from overhead costs over the next three years. Media reports suggested cost savings would come from streamlining IT support and mortgage processing.

A spokesperson at Lloyds TSB declined to comment on how many IT jobs would be lost. But the company said it would not "offshore any further permanent existing operational roles".

The Lloyds TSB Union reacted with anger at the news, saying the bank should "invest in UK jobs" instead of offshoring.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments