Barclays to cut 450 jobs

Barclays to cut 450 jobs

Labour union Unite has hit out plans by Barclays Bank to cut 450 job, labelling the reductions as 'unnecessary and unjustified”.

Unite, which is due to meet the bank's chief executive to press for a guarantee of no compulsory job losses, urged Barclays to scrap the plans and reconsider.

Unite national officer Dominic Hook says: “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.”

Barclays has yet to reveal details of where the axe will fall, although the bank has taken a stealthy approach to slimming down its branch network with cumulative commitments to shut 156 branches this year.

“The staff losing their jobs are not highly paid rich City bankers but those earning modest salaries within Barclays," says Hook. "These employees worked throughout the Covid pandemic to help to deliver the highest customer service to Barclays customers. These workers deserve better.”

In July 2023 Barclays announced its Q2 results. The bank announced a net profit of £1.3 billion which was a 24 per cent increase from the same period last year.

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