Barclays to axe 400 IT jobs

Banking giant Barclays is to axe 400 jobs in its IT departments after a review of its operations, it was announced today.

The bank said it would try to mitigate compulsory redundancies by releasing contractors, closing vacancies and offering workers the chance to apply for other jobs.

The Unite union said the job cuts were a "bitter blow", especially in the current economic uncertainty.

Barclays said in a statement: "Barclays continually reviews its operations and resources so that it functions as efficiently as possible as business needs and customer requirements evolve.

"As part of this process, we have identified some aspects of our technology operations where the organisational structure impedes performance, and roles and responsibilities for colleagues are unclear.
In some cases, roles are obsolete or being duplicated elsewhere within the bank.

"This will affect around 400 positions – 158 permanent staff and 250 contractors. All of the roles affected are UK-based, principally in Cheshire and London. None of the roles are being offshored."

Derek Simpson, joint leader of Unite, said 410 jobs will be lost, describing the announcement as a bitter blow to the IT workforce across Barclays.

"At this time of economic uncertainty, staff across the industry are working under immense pressure and there is a great deal of nervousness regarding their job security.

"This loss of jobs, all of which are highly-skilled roles, is a serious loss to the UK's skill base.

"Unite will be working with Barclays in order to avoid compulsory job losses and looking to explore all the opportunities for redeployment. Over the next few days Unite officials will be meeting with our members at all the sites impacted."

Unite, the UK's largest trade union, has expressed concern that Barclays is to make 410 job cuts in Cheshire, Northampton and London. The jobs will be lost from the bank's IT function.

Derek Simpson, Unite Joint General Secretary, said: "410 job losses in the financial services sector will come as a bitter blow to the IT workforce across Barclays.

"At this time of economic uncertainty staff across the industry are working under immense pressure and there is a great deal of nervousness regarding their job security. This loss of 160 permanent and 250 contractors, all of which are highly skilled roles is a serious loss to the UK's skill base.

"Unite will be working with Barclays in order to avoid compulsory job losses and looking to explore all the opportunities for redeployment. Over the next few days Unite officials will be meeting with our members at all the sites impacted."