Barclays to cut hundreds of jobs

January 31, 2014 03:22

Hundreds of jobs are being lost at Barclays under changes in its corporate banking division, it has been announced. Around 400 posts will go, and the Unite union said a further 120 were being placed at risk this year.

Barclays said it would try to avoid compulsory redundancies, but Unite said staff would be "reeling". National officer Dominic Hook said: "This constant insecurity will do nothing for the morale of the workforce.

Unite is calling on Barclays to rethink these job losses and ensure that there are no compulsory redundancies at the bank." Barclays said in a statement: "As part of the ongoing transformation of Barclays, the shape of corporate banking will also need to change, as we react to advances in technology and simplify the business to better serve our clients.

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