Cheltenham & Gloucester announced today that it is to close its mortgage application centre near Warwick with 300 jobs to be transferred to India.
The remaining 100 jobs will be transferred to other operations in Gloucester and Scunthorpe.
According to the Lloyds TSB Group Union, the closure is part of a wider programme transferring work to India. Almost 2,500 jobs have already been transferred overseas.
LTU assisstant general secretary Steve Tatlow says: “This is completely unacceptable. C&G jobs in the UK are to be ditched merely because existing staff can be replaced by staff in India paid a fraction of their slary. Staff are devastated.”