HBOS cuts IT jobs

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HBOS has confirmed that it is cutting 90 jobs from its group IT department.

The job cuts come alongside 325 from its mortgage department, and follow IT job cuts by Lloyds TSB and offshoring by Barclays.

Some 2,000 people currently work in the bank’s IT group. The cuts will be through voluntary severance and occur by the end of this year. According to union Unite, the cuts will affect offices in Edinburgh, Chester and West Yorkshire.

A statement from HBOS said the cuts were part of a reorganisation: “This involves bringing together common areas of practice and streamlining processes. HBOS will also be making it easier for colleagues to access IT services with fewer organisation layers and less duplication of processes.”

Graham Goddard of Unite said: "This is a further blow for jobs in the UK Financial Services sector being brought about by the credit crunch and changing economic climate.”

Earlier this year, UK banks forced IT workers to take pay cuts, as the economic downturn hit the skilled IT sector.

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