Home Business NewsBusinessBanking Barclays chief asks staff to return to the office

Barclays chief asks staff to return to the office

by LLB Finance Reporter
29th Jul 20 2:55 pm

Barclays chief executive Jes Staley has said he wants staff to return back to the office as some 60,000 staff are “working from their kitchen tables.”

Staley told Bloomberg on Wednesday that, “It is important to get people back together in physical concentrations.”

Previously he said that large offices could be a “thing of the past,” but today he said, “We also have a responsibility to places like Canary Wharf, like Manchester, like Glasgow.

“We want our people back together, to make sure we ensure the evolution of our culture and our controls, and I think that will happen over time.”

He added that currently there are around 20,000 staff working in offices, branches and call centres.

Barclays pre-tax profits took a hit due to the pandemic which fell from £3bn last year to £1.3bn in the first quarter of 2020.

UK profit before tax missed analysts forecast of £491m by 76% to £359m, which saw shares down by 5.99%.

“These results aren’t exactly unexpected, but they paint a pretty bleak picture of the UK economy nonetheless – particularly if you happen to be a business owner,” said Nicholas Hyett, equity analyst at Hargreaves Lansdown.

“Given the backdrop, a large increase in provisions for bad loans during the half was to be expected – and Barclays now expects disruption to drag well past 2020.”

You may also like

Leave a Comment


Sign up to our daily news alerts