Re: "The seven-year contract, approved by Unite and Accord unions, is said to be worth £1.9m "
Probably worth less than that as IBM undercut everyone to get the deal, but the time they have paid the fines for being so appalling. Saying that, Lloyd's may make a profit out of IBM - won't have any IT though
And yeah, LBG may have paid good redundancies (and they still do to the floor staff), those over to IBM, statutory minimum here we come