Lloyds TSB Hires 150 In First Outsourcing To India

British clearing bank Lloyds TSB is to hire 150 workers in India for its general insurance business as it tests the benefits of cheaper labour. The bank will move 107 UK jobs to India from Bournemouth, England, and the Welsh city of Newport. It will also hire 43 Indian staff for work not already done in the UK. None of the British workers will lose their jobs this year, a spokeswoman said. Lloyds TSB plans to have 1,500 workers in India by the end of 2004