The Co-Operative Bank likes to trumpet its ethical stance and compared to other UK banks it is a paragon of virtue, however in a drive to save money the Bank via its proxy French firm Steria which took over IT in 2007 – The 176 staff were told in the summer that work would be moved to India and the company was looking for 90 voluntary redundancies. Steria expects to save the Co-op money by shifting work to India – eventually 70 per cent of work will be done there. Seems profit before ethics – basically; how can we reduce costs? Sack some workers and get some others in who’ll do the job for less.

Source: The Register.