Jobs risk as Tesco Bank set to relocate its office

MORE than 160 jobs are at risk at Tesco Bank's North East operation amid plans to move operations to Scotland.

- COREENA FORD Business writer [e-mail]

> Tesco Bank offices at Quorum Business Park, North Tyneside

Tesco Bank's operations have been based at North Tyneside's Quorum Park since 2010, having signed up for a 15-year lease for the Q8 building to establish a major hub for insurance customer service.

The operation was acquired by Barclays in 2024 in a £600m deal which sees Barclays manage Tesco's credit cards, loans, and savings, while Tesco maintains its insurance, travel money, and ATM services.

Now, however, Tesco Bank has announced plans to exit the sublease on its North Tyneside offices later this year, with the majority of its 162 roles moving to Scotland.