Lloyds shifting hundreds of skilled IT jobs from Britain to India

LLOYDS BANKING GROUP is hiring hundreds of IT engineers in India, while planning to cut hundreds of similar jobs in the UK, the Financial Times reported on Friday citing a person familiar with the plans.

- FE BUREAU

The British lender plans to include 4,000 permanent employees working in technology and data in India by the end of the year, the report said, citing a presentation. The move will result in almost half of Lloyds' engineers being based outside its home market by the end of the year.

Employees will be based in a technology centre in Hyderabad, in what the bank called a "pivotal moment in our overall transformation journey". It is recruiting for highly-skilled roles which include full-stack, cloud and quality engineers, the FT report said.