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Tesco to create 800 finance jobs | Tesco to create 800 finance jobs |
(about 8 hours later) | |
Tesco has announced plans to create 800 customer service centre jobs in Scotland to support its finance operation. | |
The supermarket giant said the centre would open in central Glasgow in the first half of 2009. | |
Tesco wants to offer a full banking service, with its Edinburgh-based Tesco Personal Finance (TPF) already having six million customers. | |
It hopes to open TPF branches in Tesco stores. | |
Six are being trialled at the moment, including one at the Silverburn Shopping Centre near Glasgow. | Six are being trialled at the moment, including one at the Silverburn Shopping Centre near Glasgow. |
Tesco recently bought out former partner Royal Bank of Scotland's 50% stake in TPF, while there has been speculation that Tesco may also bid for Northern Rock when the government sells the lender. | |
TPF, which currently employs 500 people in Edinburgh, has received a £5m grant from the Scottish Government to help create the service centre. | |
The jobs announcement was made ahead of a visit to the TPF's Edinburgh base by Chancellor Alistair Darling. | |
This is a significant boost for Glasgow and the wider Scottish financial sector Alex SalmondFirst minister of Scotland | |
Mr Darling told BBC Radio 4's Today programme that Tesco's announcement was a strong vote of confidence in Scotland's financial services industry. | |
He added: "I want to see increased competition in the [banking] system and that's why Tesco's announcement today is important. | |
"We do need more competition in the system. The last couple of years has seen a significant reduction in the number of people, both from abroad and British-based banks, who are lending into the market. | |
"We need more competition and that's something that we intend to encourage." | |
Scottish First Minister Alex Salmond added: "This is a significant boost for Glasgow and the wider Scottish financial sector. | |
"Today's announcement reinforces our reputation as a leading centre for financial services and highlights again the competitiveness of our skilled workforce." |