STAFF and unions have condemned moves to axe 100 jobs from the Hampshire offices of a building society giant.

Cheltenham and Gloucester bosses have told employees work is to transfer from mortgage telephonists in the investment processing unit at Segens-worth, near Fareham, to other sites in Lincolnshire and Gloucestershire this summer.

Staff leaving work last night told the Daily Echo they had been called together for a meeting to inform them of the changes.

One employee, who asked not to be named, said: "I suppose it's no great surprise as jobs have gone elsewhere, but we're still shell-shocked.

"There were a lot of worried faces. People have got mortgages to pay and this is not the best time to find another job."

Another said staff were disgusted that a profit-making firm should readily seek to cut jobs.

Bosses say they are hopeful the figure will come from natural wastage or redeployment.

Unions claim the move is part of a strategy to cut costs by transferring work to India.

They say it could signal the end of the operation in Hampshire and that workers have little prospect of getting other jobs within the group.

All the claims are vehemently denied by bosses at the firm, which is owned by the Lloyds TSB Group.

Steve Tatlow, assistant general secretary at Lloyds TSB group union LTU, said: "It is unacceptable that jobs are to be lost. We will be seeking the fullest possible support from MPs, councils and, most importantly, customers in all the areas affected in our efforts to stop Lloyds TSB transferring jobs to India.

"C & G should stop turning a deaf ear to its customers and understand that it has a responsibility to keep jobs in the UK economy where it makes the vast majority of its huge profits.

"Any organisation that so obviously ignores the wishes of its customers does so at its peril. Customers may vote with their feet and transfer to competitors."

Director of Mortgage Operations Mike Mitchell confirmed the move, which is due to be completed by the end of August.

He said: "The aim is to achieve this reduction through natural staff turn-over and redeployment opportunities.

"Transferring this work to these alternative sites enables us to reduce the number of telephony sites that we operate from and simplify our mortgage telephony operations.

"We remain a major employer in Fareham and a company which is committed not only to jobs in the county, where we employ over 400 people, but also to jobs throughout the UK."

Cheltenham & Gloucester provide mortgages, savings and other financial products to customers throughout the UK.

LTU has collected 400,000 signatures in two years as part of its campaign to oppose job moves to India.