43 axed as bank switches jobs to India ReceivedSPF: None receiver=nym.alias.net clientip=144.140.83.154 Comments

HIGH-STREET bank giant Lloyds TSB is to axe 43 jobs in Glasgow as part of a £121million cost-cutting exercise.

The proposals, affecting administrative posts, are the latest stage of moves to transfer more than 1000 jobs to India.

Lloyds TSB said it would look to find alternative roles for as many of the affected staff as possible.

However, union leaders say few staff will have any prospect of securing other jobs with the firm.

The bank recently reported pre-tax profits of £3.47billion for 2005, and the news has angered union leaders.

Steve Tatlow, buttistant General Secretary at Lloyds TSB Group Union, said: "The transfer of yet more jobs to India shows a complete disregarded for corporate social responsibility by senior management.

"It shows no hesitation in making redundant the jobs of its existing UK staff merely because it can replace them with lower paid staff in India."

News of the jobs axe came as unemployment in Scotland fell to its lowest level since records began.

Figures out today showed the number of people out of work fell by 12,000 in the three months to January to 133,000, an unemployment rate of 5.1%.

The number of people in work rose 3000 over the quarter and by 11,000 over the year to 2,463,000.

Scotland Office minister David Cairns said: "The figures show the Scottish labour market continues to build on its record performance.

"The number of people in work has risen again and there are fewer people unemployed."

But the Office for National Statistics figures reveal a less encouraging picture across the UK as the claimant count rose by 14,600 to 919,700, the biggest monthly rise since 1992.

The number of people out of work rose by 37,000 in the three months to January to 1.53m. This figure, including people out of work but not receiving benefit, has risen by 109,000 over the past year. Employment fell by 7000 in the latest quarter to 28.8million.

15-03-06