BBC Home
Explore the BBC
BBC News
Launch consoleBBC NEWS CHANNEL
Last Updated: Tuesday, 6 February 2007, 15:53 GMT
Lloyds closure to cost 243 jobs
Lloyds bank signs
Lloyds TSB is the UK's fifth biggest bank
Lloyds TSB has announced plans to close a processing centre in Peterborough causing the loss of 243 jobs.

It said the Thorpe Wood office will shut by the end of this year, with the work being transferred to other Lloyds TSB centres across the UK.

The bank, which said staff would be offered the chance to relocate, denied union allegations that the positions were being transferred to India.

It said current plans to move 400 jobs to India this year were unrelated.

'Not taken lightly'

"It's always a sad day when we have to close any of our sites and this isn't a decision we've taken lightly," said Lloyds TSB's head of operations, Paul Baker.

"Our priority over the next few weeks is to talk to all our staff individually about other opportunities for those that want to stay with the bank."

Despite the bank's assurances, the Lloyds TSB Group Union claimed that the closure announcement is linked to the firm's ongoing export of jobs to India, where it now has around 2,500 workers.

"We want to embarrass Lloyds TSB into keeping these jobs within the UK," said Peter O'Grady, assistant general secretary of the union.

Lloyds TSB is the UK's fifth largest bank.

Islamic student account launched
22 Aug 06 |  Business
Lloyds TSB leaflet 'misleading'
25 Oct 06 |  Business
Bad debts trim Lloyds TSB gains
02 Aug 06 |  Business
Lloyds TSB to inject pension cash
19 Jun 06 |  Business
More bank jobs are moved abroad
25 May 06 |  England

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Americas Africa Europe Middle East South Asia Asia Pacific