EMCC European Monitoring Centre on Change

Lloyds

Company/Organisation:
Lloyds

Geographic Location

Country: United Kingdom
Location of affected unit(s): Bournemouth, Newport

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Group: Lloyds TSB Group

Employment Effects

Announcement Date: 18-02-2004
Planned Job Reductions min: 107
Planned Job Reductions max: 107
Type of Restructuring: Offshoring/Delocalisation
Direct Dismissals: 107

Additional Information

Lloyds TSB Bank has announced further job cuts in their general insurance offices at Bournemouth and Newport in South Wales. These will be outsourced to India to join a growing Lloyds TSB workforce there that is estimated to grow to 1,500 employees by the end of 2004.