Barclays bank will offshore 1,800 IT jobs over the next three years, from its global infrastructure and service delivery wing.
The jobs will move to Singapore, Hungary and India, and the change is part of attempts by the bank to “transform to a global organisation”.
Some 700 jobs will go this year, and at the end of the three years, 1,000 posts will remain in the UK part of the GISD division, at London and Radbroke.
The bank, which lost out last year to a Royal Bank of Scotland consortium in its attempts to take over ABN Amro, said it wanted “centrally-managed technologies in centres of excellence”. It added: “This will allow us to follow the sun and be operational 24/7.”
“These changes are about putting in place the technology and systems to support Barclays in achieving its ambitions,” it said.
The move will affect full time staff and contractors, and was decided earlier this year. Barclays said it would offer staff the chance to reapply for the jobs abroad and relocate.
Unite, the union representing workers affected by the change, said it had held “regular meetings” to discuss the plan and arrange fair terms for workers. Those affected would obtain three months working notice and three months paid notice of redundancy. A £2,000 retraining allowance would be available for any staff seeking retraining externally.
Last year, the bank announced it would cut 1,100 jobs including IT support staff and payment processing posts as it automated cheque handling processes. It also set up its own business process outsourcing operations in India.
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