Barclays announce 400 technology job losses
Following a review of its operations, Barclays has announced today it is to axe 410 jobs in its IT department.
The bank said the review will see around 158 permanent staff and 250 contractor positions go, principally in Cheshire and in London.
The news comes at a bad time as the retailing sector is suffering amid the economic downturn and job losses are in their thousands.
A Barclays spokesperson said the consultation process had just commenced and it is too soon to confirm whether the cuts would include compulsory redundancies.
However, those affected will have a number of options available, including voluntary redundancy and the opportunity to apply for other roles within the business, added the spokesperson.
The job losses were described as a “bitter blow“ by Unite, the UK’s largest trade union. Over the next week, Unite officials are to meet with its members at all sites affected to explore redeployment opportunities.