Barclays bank has decided to enter a managed outsourcing contract, moving 1,800 jobs overseas.
The high-street bank has revealed it will move positions in its global infrastructure and service delivery wing to locations in Singapore, Hungary and India.
It hopes the move will enable it to be "operational 24/7" and will "transform the global organisation".
The bank said: "These changes are about putting in place the technology and systems to support Barclays in achieving its ambitions."
Around 700 jobs will go this year as part of the managed outsourcing move, with an additional 1,000 to be lost next year.
Staff at the firm are being given the opportunity to relocate or change their contracts, with Unite, the union, having regular talks with employees to arrange a fair deal.
The firm adopted another form of managed IT outsourcing last year, when it set up and automated cheque handling process, which caused 1,100 jobs to be cut.
The insurance firm Aviva has recently opted to move some of its jobs offshore in a managed IT outsourcing deal worth £505 million.
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