Lloyds Shifts Skilled IT Jobs from UK to India

Lloyds Banking Group is relocating hundreds of skilled IT jobs from the UK to India, according to a Financial Times report. The bank plans to hire hundreds of IT engineers in India while cutting similar positions in the UK. By year-end, Lloyds aims to have 4,000 permanent staff in technology and data roles in India. This move is part of a broader restructuring effort, which includes creating 1,200 new roles in the UK but also involves redundancies due to role changes and offshoring to the Lloyds Technology Centre in Hyderabad.
Sources: Reuters, The Register, Financial Times