Barclays is axing 158 UK-based inhouse technology staff and 250 contractors from its global infrastructure and service delivery (GISD) unit.
Most of the affected staff are in Cheshire, where around 3000 technology staff are employed, and London and Northampton. None of the jobs are being offshored.
In a statement, Barclays says it has "identified some aspects of our technology operations where the organisational structure impedes performance, and roles and responsibilities for colleagues are unclear".
Some of the roles being axed are "obsolete or being duplicated elsewhere within the bank".
The bank says it is working with union Unite and will look to mitigate compulsory redundancies by releasing contractors, closing vacancies and opening voluntary redundancy registers.
Derek Simpson, joint general secretary, Unite, says: "410 job losses in the financial services sector will come as a bitter blow to the IT workforce across Barclays. At this time of economic uncertainty staff across the industry are working under immense pressure and there is a great deal of nervousness regarding their job security."
The latest cuts come just six months after Barclays outlined plans to axe 1800 GISD technology jobs in the UK over two years and offshore the work to "centres of excellence" around the world.