Bank of America to move UK jobs to India

Hundreds of jobs in the United Kingdom are at risk as the London arm of the Bank of America prepares to shift its outsourcing operations to India.

The Bank of America is one of the largest foreign banks operating in the UK and has 1,800 employees at its two offices in London and Bromley in Kent.

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Staff have been told to "prepare for the worst" as the two London offices are merged and preparations get underway to open a new Bank of America subsidiary in India.

One member of the bank staff quoted by the British Sunday media said: "We were in shock when we heard the news, but now we're philosophical about it."

"The US operations have already shifted some of their business to India and now it's just a matter of waiting to see who is going to be safe and who should start looking for another job."

A bank spokeswoman -- who confirmed that a subsidiary would open in India in April next year -- is also quoted as saying: "There is the possibility that some jobs will be eliminated."

She also explained that outsourcing was a cost-cutting measure that the many top American companies were currently in the process of implementing.