News

Barclays cuts more jobs

Barclays Bank has announced 2,100 job cuts, which include IT roles, in its retail and commercial business a day after news of the same number being cut in investment banking yesterday.

These jobs include at least 400 IT workers.

This brings the total job cuts revealed this week to 4,200. A Barclays spokeswoman said that the retail and commercial banking cuts could include IT jobs but the investment banking probably will not. "The only definite IT job cuts are the 400 announced last week which are part of [the 4,200]." But she did not rule out more.

Special Reports

Recession with live stock updates

Redundancy with interactive map

 

This 400 included 150 in-house IT jobs and 250 contractors from its Global Infrastructure Delivery (GISD)unit. The company said some of these jobs had become obsolete and others were duplications.

The spokeswoman said the bank will attempt to limit the redundancies. She said many of the roles being cut are only vacancies, others are contractors with six month contracts and the bank will try to redeploy people.

"We expect the final number of compulsory redundancies to be significantly lower than the numbers reported in the media. In 2008 we announced 2,500 job cuts but by the end of the year our total employee number increased by 8,000," she added.

Keith Brooks, general secretary for Barclays at union Unite said this could be part of the bank's announcement last year that it would offshore 1,800 jobs at Barclays GISD.

Brooks said about 700 of these jobs have already been cut. "There are another 1,100 planned, unless the bank has changed its mind."

Barclays said all the GISD cuts would be made by 2010.

Unite deputy general secretary Graham Goddard has called for Barclays to inform the union of its plans."Barclays needs to come clean and end its strategy of death by a thousand cuts," he said.


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
 

COMMENTS powered by Disqus  //  Commenting policy