The British bank is outsourcing large parts of its IT to IBM in a deal worth over 1.3 billion pounds over 10 years. It is expected to involve 1,900 jobs.
The Lloyds trade union in its newsletter released on Tuesday said IBM has only guaranteed to keep the existing jobs for a minimum period of time and plans for most of the work to be carried out by staff based offshore.
“According to the bank, about 200 jobs will be based in the UK,” said Mark V Brown, general secretary of the union. TOI requested IBM India for a comment, but did not receive one till the time of going to print.
(This article was originally published in The Times of India)