Home Business NewsBusinessBanking News Barclays to axe more than 400 jobs at a time the bank is ‘making billions of pounds of profits’

Barclays to axe more than 400 jobs at a time the bank is ‘making billions of pounds of profits’

by LLB Finance Reporter
12th Sep 23 2:21 pm

Barclays bank has announced on Tuesday that they are to axe 450 jobs across the business and mid to senior-level staff at the head office are most likely to be affected, PA news agency has reported.

Unite who represents staff at Barclays said the bank is looking to trim their costs and the union said it was “unnecessary and unjustified” for those who are earning moderate wages.

A spokeswoman for Barclays bank said, “We continue to review and adapt our operations based on the ways customers are choosing to interact with us.

“These changes will enable greater collaboration across our teams, allowing us to continue to improve service for customers and clients.

“We are committed to supporting colleagues through this change, working closely with Unite.”

Unite’s national officer, Dominic Hook, hit out at Barclays for cutting jobs as they are making huge profits.

Hook said, “How can a profitable finance organisation such as Barclays slash over 450 staff amid a cost-of-living crisis?

“This isn’t an organisation struggling to survive, this bank is making billions of pounds of profits.

“If these plans for compulsory redundancy are implemented then hundreds of families will lose their livelihoods and face financial hardship because of a management decision which is both unnecessary and unjustified.

“The staff losing their jobs are not highly paid rich City bankers but those earning modest salaries within Barclays.

“The bank must scrap these plans and reconsider.

“Unite is willing to work with the bank to ensure staff are given re-training and redeployment opportunities.”

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