Barclays job cuts double to 4,200

Barclays Bank is cutting a further 2,100 positions in the UK, according to union body Unite.


Barclays Bank is cutting a further 2,100 positions in the UK, according to union body Unite.

The move comes after it yesterday announced a similar number of posts to go at its investment banking, Barclays Capital and Barclays Global Investors businesses. The latest jobs will go in retail and commercial banking.

Barclays confirmed there were some planned job cuts, but could not provide a breakdown of which roles were affected or whether IT was impacted. Barclays also said the total figure was not confirmed.

"We will take all possible measures to mitigate compulsory redundancies through redeployment, using natural attrition, releasing of contractors, closing vacancies and opening voluntary redundancy registers. We work with the individuals affected and offer them extensive one-to-one support," the bank stated.

Last week, Barclays announced plans to cut 400 UK IT roles from its global infrastructure and service delivery unit.

The bank also announced last year plans to reduce its workforce by 3,000 in the wake of its takeover of Lehman Brothers.

The bank is in consultation with trade union Unite over the job losses.

The union body condemned the move, urging the bank to "come clean" and provide a total target figure for redundancies. "We are demanding that Barclays release the ‘big picture’. Barclays need to come clean and end their strategy of ‘death by a thousand cuts’," said Unite.

"We can not continue with this situation of daily job cuts without any justification or explanation of the broader strategy for the bank. In this economic environment it is not acceptable for Barclays staff to arrive at work each day with the dread that they could be next in what appears to be a lottery of job losses at Barclays.”

According to the Centre For Economic and Business Research, 34,000 financial sector jobs could be lost this year in London alone. This follows 28,000 jobs that were terminated in 2008, which altogether represents a 20 percent workforce slash over two years. The institution does not provide a breakdown of which roles would be axed, but IT roles are included in the total figure.

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