Barclays bank to cut 400 jobs

Barclays bank has announced plans to axe more than 400 posts as part of ‘essential changes’ to its technology and infrastructure division, in the latest blow to the finance sector.

The bank denied that work was being transferred to Lithuania, saying that it would make every effort to mitigate compulsory redundancies.

The job losses amount to 0.74 per cent of the bank’s UK staff.

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David Fleming, national officer of the Unite union, said: “The decision by Barclays Technology to cut 422 jobs is a New Year’s blow for the staff.

“Unite has strongly opposed the sending of some of this work to Lithuania, when there are already highly trained workers carrying out this work.

“The vast majority of jobs will be going from Radbrooke Hall, Cheshire. There will also be jobs cut in Northampton and a scattering among other sites around the country.”

A spokesman for Barclays said: “We need to make essential changes to our technology and infrastructure division so that we can innovate in new technologies and services for our customers, and be as effective and efficient as possible.

“Whilst regrettably this will mean job losses, we will make every effort to mitigate compulsory redundancies and are working closely with Unite and impacted staff.”

The bank will open a voluntary redundancy register under moves to minimise compulsory job losses.