British banking group Abbey National said today it was accelerating its programme to move operations off-shore, shifting 400 British jobs to India as part of a strategic overhaul.
Britain's second-biggest mortgage lender also said it would close its Edinburgh life insurance office and transfer the 900 jobs there to the neighbouring city of Glasgow.
"We have taken some tough business decisions today that are absolutely necessary to the health of Abbey's future and for giving our customers better service at a competitive price," chief executive Mr Luqman Arnold said in a statement.
Abbey is in the throes of a major overhaul, involving the sale of some businesses and the launch of an ambitious rebranding campaign, as it attempts to revive its retail presence after a disastrous foray into wholesale banking.
The company said earlier this week it had sold most of its private equity investments and was reviewing the future of its fund arm, Abbey National Asset Managers, which oversees more than £29 billion of assets and employs about 170 people.