Insurance giant to move 1,100 jobs to India
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One of the UKâs biggest insurance firms today announced plans to transfer more than 1,100 jobs to India over the next few years, sparking fears of a âcrisisâ in Britain.
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One of the country&#39;s biggest insurance firms today announced plans to transfer more than 1,100 jobs to India over the next few years, sparking fears of a &quot;crisis&quot; in the UK.
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Production staff - now standing at 1000 - will be cut by two-thirds as News International, the UK newspaper unit of News Corp, moves its London printing facilities from Wapping to Enfield.
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Lloyds TSB is moving another 1,000 jobs to India, increasing its workforce in Bangalore and Mumbai to 2,500 by the end of next year.
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Lloyds TSB Group Plc, the UK&#39;s No. 5 bank by assets, plans to move at least another 1,000 employees from Britain to Asia, where labor costs are lower.
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London, Oct. 11: Britainâs second-largest general insurance group, Royal &amp; Sun Alliance, is to save Â£10 million a year by outsourcing 1,100 jobs in call centres, administration and processing to India over the next two years.
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Aviva PLC, Britain&#39;s biggest insurance company, said Wednesday it will create about 950 offshore jobs in India and Sri Lanka next year to service its UK operations.
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Banking group Lloyds TSB said Tuesday it will transfer about 1,000 British jobs to India by the end of next year. The group will transfer jobs in its information technology and group operations departments
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The bond insurer is raising $1 billion in an effort to stay afloat.
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LONDON Reuters, the news agency and financial-data company, said Thursday that it would triple its number of employees in India by the end of next year, as the company tries to meet stringent cost-cutting targets.
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The insurance giant Norwich Union today announced plans to move 7,000 jobs abroad by 2007. Aviva, which owns Norwich Union, announced the transfer of the jobs - servicing its UK businesses - to an angry response from unions.
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Insurance firm Royal & Sun Alliance says it is cutting 1,100 jobs in the UK and moving the posts to India.
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Banking group Lloyds TSB said Tuesday it will transfer about 1,000 British jobs to India by the end of next year.
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Bank of America Corp. confirmed yesterday it will locate its wealth management division in Boston and said it will move about 100 high-level jobs here.
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About 1,000 jobs will go at Morgan Stanley as the US bank cuts back its home lending business.
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About 1,000 of those positions will be shifted to lower-cost operations in Mexico, China and India.
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Financial news and information provider Reuters Group Plc said on Thursday it plans to make Bangalore its biggest information-gathering hub, employing up to 1,500 people, or 10 percent of its total workforce.