Type
Offshoring/Delocalisation
Country
United Kingdom
Region
Location of affected unit(s)
Bournemouth, Newport
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding
New offshoring locations

107 jobs
Number of planned job losses
Job loss
Announcement Date
18 February 2004
Employment effect (start)
Foreseen end date

Description

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.


Sources

  • 18 February 2004: The Guardian

Citation

Eurofound (2004), Lloyds, Offshoring/Delocalisation in United Kingdom, factsheet number 58959, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/58959.