Lloyds to cut over 1,800 jobs
13 March 2012
The Lloyds Banking Group has announced that it will be cutting over 1,800 jobs, a decision that unions are describing as disgraceful and immoral.
The latest jobs cuts follow on from 720 job losses announced in January and 718 in February. The Lloyds Trade Union (LTU) is upset with the announcement as the bank is planning to transfer 513 skilled IT roles to India.
The LTU says that the Indian roles will be paid a fraction of the equivalent UK salary.
Steve Tatlow, Assistant General Secretary, LTU, says: "This is disgraceful conduct by Lloyds Management. Whilst we might accept that cutting jobs is justified when a company needs less staff, this is immoral.
"UK-based workers are being condemned to joining the burgeoning ranks of unemployed for no other reason than they can be replaced by lower-paid workers on the other side of the world.
"First the Bank is a lead contributor to this economic crisis. And then it refuses to follow the lead of many other more responsible companies who are helping create jobs in the UK. It is doing the absolute opposite - unnecessarily and unjustifiably swelling the ranks of the unemployed."
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