Not just rate cuts - Banks IT going to India

[DimPrawn]

http://www.silicon.com/financialserv...9223466,00.htm

Hundreds of IT jobs could be lost at Lloyds TSB as part of the bank's plans to offshore 450 posts from the UK to India this year, a trade union is warning.

Lloyds TSB will offshore up to 250 permanent and 200 contractor posts in the technical delivery department from the UK to India from June this year.

The bank is considering outsourcing further jobs in the programme management office department, which employs 75 people, later in the year according to internal statements released by the Lloyds TSB Union (LTU).

The majority of affected staff are likely to be based in London and Wythenshawe, near Manchester, where Lloyds TSB has a total of 1,760 staff, although 11 offices around the UK could be affected.

The change is estimated to mean that only a fifth of tech staff working in the affected areas, mainly internal software design and testing, will be left in the UK.


Doomed!

[realityhack]

Hmm...

Not good. Not good at all.

[Moscow Mule]

mainly internal software design and testing, will be left in the UK.


Doomed!

Not the disaster you might imagine - they will need lots more testers to make sure everything that comes back from India actually works.

[XperTest]

Glad I'm in testing.

[TimberWolf]

Glad I'm in testing.

What's testing. Do you mean going live?

--Government IT

[moorfield]

Get yourself some niche skills quick Murex, Martini, Calypso etc.

[Bumfluff]

What are the costs like in Singapore ? I've been told I won't be renewed in Oct 08 as they will get someone in Singapore, they claim the CV's they are seeing are for applicants with the same level of experience as me but are charging 50% less I can't compete with that

[BlasterBates]

Great doom posting DP. Noticed in the news that jobs will be disappearing their droves from the financial sector, hmmm at least the desk space per employee should improve. Some banks resemble a chicken coop.

[DimPrawn]

What are the costs like in Singapore ? I've been told I won't be renewed in Oct 08 as they will get someone in Singapore, they claim the CV's they are seeing are for applicants with the same level of experience as me but are charging 50% less I can't compete with that

You greedy fooker. Just halve your rate. You'll pay less tax too if you earn very little.


Sorteeed.

[Moscow Mule]

What are the costs like in Singapore ? I've been told I won't be renewed in Oct 08 as they will get someone in Singapore, they claim the CV's they are seeing are for applicants with the same level of experience as me but are charging 50% less I can't compete with that

Costs are close to zero if you live with your parents in the sticks and commute to the office everyday (or indeed sleep in the office).

ClientCo has a base in Manilla - it's basically a well paid (for Manilla) programming/error fixing sweat shop.