Barclays to cut over 400 IT jobs
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Bank to axe 422 positions in restructuring of IT department, as RBS announces 4,500 job cuts
Barclays Bank has announced that it is to cut 422 IT roles, many of them based in the UK, as it restructures its technology and infrastructure division.
“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," the company said in a statement. "Whilst regrettably this will mean job losses, we will make every effort to mitigate compulsory redundancies and are working closely with [trade union] Unite and impacted staff.”
Unite criticised the decision as a "new year's blow for the staff". It alleged that some of the work will be transferred to Barclays' offshore delivery centre in Lithuania.
Barclays dismissed this claim, however. "The re-structure will create a net reduction in jobs both in the UK and overseas. We will continue to base the majority of this division’s staff in the UK."
The news coincided with an announcement by banking giant RBS that it is to cut 3,500 jobs over the next three years as it decreases the size its investment banking division.
In October last year, a leaked email revealed that RBS had frozen IT spending in order to contain costs. The email also instructed contractors to take two weeks mandatory holiday over the Christmas period.
