Barclays to cut 900 jobs as bank strives to 'reshape' its UK business

Barclays bank branch logo

Barclays is set to cut 900 jobs in its UK business, the union Unite has said

Jessica Sheldon

By Jessica Sheldon

Published: 28/11/2023

- 13:57

Updated: 28/11/2023

- 17:11

Barclays staff were told of the job redundancy news at 1pm today, according to the union Unite

Barclays is putting 900 jobs in its UK business at risk of redundancy as it looks to cut costs, the trade union Unite has said.

The union said roles across a number of divisions, including its Barclays International arm and Barclays Execution Services, which provides technology, operations and functional services to businesses across the group, will be cut.

Barclays did not confirm numbers, however, the bank said it is taking actions to cut its workforce “as management layers are reduced and the group improves its technology and automation capabilities”.

Unite said jobs would be cut across a number of back-office divisions, including compliance, finance, legal, policy, IT and risk.

Barclays bank branch cash machine

Barclays said it aims to "reshape" the business in the UK


A Barclays spokesperson said: “As we said in October at Q3 results, we are taking a number of actions to simplify and reshape the business, improve service, and deliver higher returns.

"This includes changes to our headcount as management layers are reduced and the Group improves its technology and automation capabilities.

"We are committed to supporting impacted colleagues through these changes.”

Unite branded the decision to cut staff in the run-up to Christmas "disgraceful".

The union is urging the bank to avoid all compulsory redundancies and to redeploy staff in the affected areas of the business.

Unite national industrial coordinator Dominic Hook said: “As the festive season approaches 900 staff will be fearful of what their futures hold.

"With jobs at risk, workers face real worries about how their families will cope as food and fuel prices rise.”

Barclays is working on plans to save up to £1billion ($1.25billion), which could include making as many as 2,000 jobs redundant, according to a report by Reuters last week.

Barclays told staff it was planning to cut around 450 jobs across the business in September.

A Barclays spokesperson said at the time: “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.”

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