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Lloyds sheds 1,000 IT contractor roles
Job prospects for IT contractors have been dealt a blow as Lloyds TSB announces that it is to shed thousands of jobs.
The banking group is set to reduce its UK contractor assignments by more than 1,000, following a complete overhaul of the group's IT systems.
In addition, Lloyds has decided to reduce the number of offshore IT contractor vacancies by more than 1,750.
The director of group operations at the financial services firm, Mark Fisher, said that the loss of temporary roles was necessary to mitigate the impact on permanent members of staff.
"The changes we are putting in place will give us a world-class IT operation that will benefit our customers and all our other stakeholders," he said.
Recruiter Badenoch & Clark warned last week that the jobs growth IT contractors have seen in the financial services sector is set to subside, as many wait cautiously to see if there will be a double-dip recession.
The banking group is set to reduce its UK contractor assignments by more than 1,000, following a complete overhaul of the group's IT systems.
In addition, Lloyds has decided to reduce the number of offshore IT contractor vacancies by more than 1,750.
The director of group operations at the financial services firm, Mark Fisher, said that the loss of temporary roles was necessary to mitigate the impact on permanent members of staff.
"The changes we are putting in place will give us a world-class IT operation that will benefit our customers and all our other stakeholders," he said.
Recruiter Badenoch & Clark warned last week that the jobs growth IT contractors have seen in the financial services sector is set to subside, as many wait cautiously to see if there will be a double-dip recession.
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