Lloyds Transfers Skilled IT Jobs from UK to India, as Reported by FT

On March 7, Reuters reported that Lloyds Banking Group is expanding its workforce by hiring hundreds of IT engineers in India while simultaneously planning to reduce hundreds of similar positions in the UK. According to the Financial Times, the British bank aims to have 4,000 permanent employees specializing in technology and data in India by the end of the year, as outlined in a presentation.