Here is a summary of noteworthy HR-related news from India on March 9, 2025:
Lloyds Banking Group Shifts Skilled IT Jobs from UK to India
Lloyds Banking Group is set to hire hundreds of IT engineers in India while planning to cut a similar number of jobs in the UK. The British lender plans to have 4,000 permanent employees working in technology and data in India by the end of the year, nearly doubling its tech workforce in the country. This move is part of Lloyds' broader IT overhaul, aiming to digitize operations and cut costs. Consequently, around 6,000 UK-based IT employees were notified last month that their jobs are at risk, although the bank plans to create 1,200 new tech jobs for which the existing staff will need to reapply. Despite the promise of new roles, some UK workers are expected to lose their jobs, leading to accusations of hypocrisy from union leaders. The shift aligns with similar trends by other UK financial institutions transferring jobs to India and is part of Lloyds' £4bn investment plan under CEO Charlie Nunn to improve returns and reduce reliance on interest rates.
https://www.ft.com/content/a304cf5a-...f-16651b59e758
BlackRock Plans to Hire 1,200 People in India Expansion
BlackRock, the world's largest asset manager, plans to hire nearly 1,200 people to expand its support hubs in Mumbai and Gurugram, India. The expansion aims to enhance the firm's artificial intelligence capabilities, adding to the existing employee count of approximately 3,500 in these cities. Additionally, through a proposed acquisition of data provider Preqin, BlackRock will incorporate a global capabilities center located in Bengaluru, India's IT hub. BlackRock has declined to comment on these market speculations.
https://www.reuters.com/business/fin...ts-2025-02-05/
India Wins Champions Trophy, Solidifying Top Position in White-Ball Cricket
India clinched the Champions Trophy title on March 9, 2025, confirming their status as the world's premier white-ball cricket team. Skipper Rohit Sharma led by example as reigning Twenty20 World Champions India prevailed in a nerve-wracking final against New Zealand to claim their second successive global title.
https://www.reuters.com/sports/crick...hy-2025-03-09/
From India, Faridabad
4Lloyds Banking Group Shifts Skilled IT Jobs from UK to India
Lloyds Banking Group is set to hire hundreds of IT engineers in India while planning to cut a similar number of jobs in the UK. The British lender plans to have 4,000 permanent employees working in technology and data in India by the end of the year, nearly doubling its tech workforce in the country. This move is part of Lloyds' broader IT overhaul, aiming to digitize operations and cut costs. Consequently, around 6,000 UK-based IT employees were notified last month that their jobs are at risk, although the bank plans to create 1,200 new tech jobs for which the existing staff will need to reapply. Despite the promise of new roles, some UK workers are expected to lose their jobs, leading to accusations of hypocrisy from union leaders. The shift aligns with similar trends by other UK financial institutions transferring jobs to India and is part of Lloyds' £4bn investment plan under CEO Charlie Nunn to improve returns and reduce reliance on interest rates.
https://www.ft.com/content/a304cf5a-...f-16651b59e758
BlackRock Plans to Hire 1,200 People in India Expansion
BlackRock, the world's largest asset manager, plans to hire nearly 1,200 people to expand its support hubs in Mumbai and Gurugram, India. The expansion aims to enhance the firm's artificial intelligence capabilities, adding to the existing employee count of approximately 3,500 in these cities. Additionally, through a proposed acquisition of data provider Preqin, BlackRock will incorporate a global capabilities center located in Bengaluru, India's IT hub. BlackRock has declined to comment on these market speculations.
https://www.reuters.com/business/fin...ts-2025-02-05/
India Wins Champions Trophy, Solidifying Top Position in White-Ball Cricket
India clinched the Champions Trophy title on March 9, 2025, confirming their status as the world's premier white-ball cricket team. Skipper Rohit Sharma led by example as reigning Twenty20 World Champions India prevailed in a nerve-wracking final against New Zealand to claim their second successive global title.
https://www.reuters.com/sports/crick...hy-2025-03-09/
From India, Faridabad
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