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Back to the future
as North West faces service sector jobs haemorrhage
London: Tens of thousands of jobs
in the North West could be lost if major insurance
employers continue to outsource jobs to India, with
the potential loss of 20,000 finance sector jobs over
the next five years.
By Margot B
London, UK (PRWEB) Sep 4, 2003 --
Tens of thousands of jobs in the North West could
be lost if major insurance employers continue to outsource
jobs to India, with the potential loss of 20,000 finance
sector jobs over the next five years.
Amicus, the largest finance and insurance
sector union in the UK, is warning that tens of thousands
of jobs in the North West could be lost if major insurance
employers continue to outsource jobs to India, with
the potential loss of 20,000 finance sector jobs over
the next five years.
Companies such as Royal & Sun
Alliance, Friends Provident, Aviva and Axa have set
up operations in India.
Industry experts and consultants predict
that up to 200,000 UK jobs are likely to be lost in
the biggest industrial collapse since manufacturing
was decimated in the early 1980s. Analysts predict
a total of 2 million jobs will migrate from Western
Europe by 2008.
Service sector industries including
call centres replaced manufacturing jobs in many of
Britain's worst industrial blackspots and have sustained
the economy since the collapse of traditional heavy
manufacturing.
Workers in India are paid 75% less
than their counterparts in the UK and the "off
shore bonanza" will mean "three out of four
major financial institutions will be off shore within
two years". In addition, to be outsourced, will
be a whole range of back office functions from actuarial
and legal work to paper processing in almost all employment
sectors.
According to David Fleming, National
Secretary for Finance, "Whole communities across
the North West are being asked to face the nightmare
of the 1980s once again. It is imperative that the
Government acts now on the lessons learnt from then
and takes steps to manage this next industrial and
social earthquake."
"Our members are upset and confused
by the current situation and union membership is growing
markedly as a result. We will take whatever action
is necessary to make sure that employers and the government
deal with this matter urgently and in partnership
with the communities that rely on them."
Source: Amicus
Lee Whitehill +44 (0)7768 693950.
__________________________
By Margot B: author of a book &
100's of articles on health & the environment.
Margot B & Associates consist of a staff of outstanding,
professional writers in the US, Canada, France, Belgium,
New Zealand. Copyright © Margot B & Associates; Author Profile
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