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January 7, 2009

Barclays cuts over 400 IT jobs

by Gill Montia

Story link: Barclays cuts over 400 IT jobs

Barclays has announced that it is cutting over 400 IT jobs.

The bank says it has been reviewing its operations and will be reducing its technology workforce by 158 permanent staff and 250 contractor positions.

It has assured that none of the roles are being transferred offshore.

The job losses will be mainly from the group’s offices at Radbroke Hall in Cheshire and in London.

Among permanent employees, compulsory redundancies have not been ruled out but staff will have the opportunity to apply for other jobs within the group.

According to reports, the review that precipitated the job cuts revealed instances where the roles and responsibilities of IT staff were unclear.

In some cases, roles were deemed to be obsolete or were being duplicated elsewhere within the bank.

In July of last year, Barclays shed 300 Cardiff-based jobs when it closed its Firstplus division to new business.

Firstplus provides loans to homeowners who already have mortgages on their properties and Barclays attributed the move to a downturn in the market.

 

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