Lloyds Banking Group on Tuesday told about 1,000 staff in its insurance division that they will be moving to Diligenta, a subsidiary of India's Tata Consultancy Services, according to the Unite union.
Unite said that the staff at Scottish Widows and Clerical Medical in Edinburgh and Bristol will be transferred to the new company. No time frame for the move was given.
"The bank's 'sale' of its committed Scottish Widows and Clerical Medical staff represents contempt for long-serving and skilled employees," Rob MacGregor, a Unite national officer, said in a statement.
"The message from Lloyds Banking Group is loud and clear and appears to be 'so long, thanks for your efforts, you work for them now'."