{"id":1291766,"date":"2025-03-09T09:54:44","date_gmt":"2025-03-09T04:24:44","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1291766"},"modified":"2025-03-09T09:55:17","modified_gmt":"2025-03-09T04:25:17","slug":"259-year-old-uk-bank-will-shift-4000-permanent-jobs-to-india","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/259-year-old-uk-bank-will-shift-4000-permanent-jobs-to-india\/","title":{"rendered":"259 Year Old UK Bank Will Shift 4000 Permanent Jobs To India"},"content":{"rendered":"\n<p>Lloyds Banking Group is planning to <strong>hire 4,000 permanent employees in technology and data roles in India by the end of 2025<\/strong>, according to a Financial Times report. These hires will <strong>account for nearly half of Lloyds\u2019 global technology workforce<\/strong>, a source familiar with the matter stated.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"616\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-09-at-9.53.45\u202fAM-1024x616.png\" alt=\"\" class=\"wp-image-1291787\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-09-at-9.53.45\u202fAM-1024x616.png 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-09-at-9.53.45\u202fAM-300x180.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-09-at-9.53.45\u202fAM-768x462.png 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-09-at-9.53.45\u202fAM-1536x923.png 1536w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-09-at-9.53.45\u202fAM.png 1986w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Meanwhile, <strong>6,000 UK IT employees have been warned that their jobs are at risk<\/strong> as the bank conducts a review of its engineering workforce. While Lloyds plans to create <strong>1,200 new high-skilled roles<\/strong>, affected employees must reapply through a competitive selection process. The bank&#8217;s Chief Operating Officer, Ron van Kemenade, acknowledged that some <a href=\"https:\/\/www.thebanker.com\/content\/a76a7616-3c8a-4459-9d8a-e965b18ada9e#:~:text=Lloyds%20Banking%20Group%20is%20hiring,newspaper%20and%20an%20anonymous%20source.\">employees might not secure<\/a> new positions due to <strong>skillset mismatches, location constraints, and reduced demand for certain roles<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Union Backlash Against Lloyds<\/strong><\/h3>\n\n\n\n<p>The <strong>Banking, Insurance &amp; Finance Union (BTU)<\/strong> has strongly criticized Lloyds\u2019 decision, calling it an act of <strong>\u201cbreathtaking hypocrisy\u201d<\/strong> that contradicts its commitment to <strong>\u201chelping Britain prosper.\u201d<\/strong> The union argues that shifting jobs overseas <strong>undermines the UK workforce<\/strong>, especially when the bank is actively cutting jobs domestically.<\/p>\n\n\n\n<p>As part of its broader restructuring plan, Lloyds also plans to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Cut 500 additional jobs across various departments<\/strong><\/li>\n\n\n\n<li><strong>Close two offices<\/strong><\/li>\n\n\n\n<li><strong>Shut down 136 UK branches<\/strong><\/li>\n<\/ul>\n\n\n\n<p>A Lloyds spokesperson defended the restructuring, stating that <strong>while the bank is creating new roles and upskilling employees, job reductions are an inevitable part of transformation efforts.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Lloyds\u2019 Cost-Cutting Strategy &amp; Future Plans<\/strong><\/h3>\n\n\n\n<p>Lloyds&#8217; <strong>\u00a34 billion investment plan<\/strong>, spearheaded by CEO Charlie Nunn, aims to <strong>modernize operations, enhance digital banking services, and improve profitability<\/strong>. The bank is focusing on technology-driven initiatives, which include leveraging <strong>artificial intelligence, cloud computing, and automation<\/strong> to streamline banking operations.<\/p>\n\n\n\n<p>The decision to expand in India aligns with a broader trend of financial institutions outsourcing IT jobs to countries with <strong>lower labor costs and a skilled workforce<\/strong>. Other UK banks, including <strong>HSBC and Barclays<\/strong>, have also expanded their technology teams in India in recent years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What\u2019s Next?<\/strong><\/h3>\n\n\n\n<p>Lloyds&#8217; job cuts and overseas hiring strategy have fueled concerns about <strong>the future of UK\u2019s financial sector employment<\/strong>. With unions pressuring the bank to reconsider, and employees facing an uncertain future, the coming months will be critical in determining <strong>whether Lloyds modifies its workforce strategy or continues with its offshore hiring plan<\/strong>.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.information-age.com\/lloyds-banks-1-75bn-bet-future-banking-4102\/\">Image Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lloyds Banking Group is planning to hire 4,000 permanent employees in technology and data roles in India by the end of 2025, according to a Financial Times report. These hires will account for nearly half of Lloyds\u2019 global technology workforce, a source familiar with the matter stated. Meanwhile, 6,000 UK IT employees have been warned [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1291787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2317,7239],"class_list":["post-1291766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bank","tag-lloyds"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>259 Year Old UK Bank Will Shift 4000 Permanent Jobs To India - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/259-year-old-uk-bank-will-shift-4000-permanent-jobs-to-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"259 Year Old UK Bank Will Shift 4000 Permanent Jobs To India - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Lloyds Banking Group is planning to hire 4,000 permanent employees in technology and data roles in India by the end of 2025, according to a Financial Times report. 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