Barclays to cut 500 jobs and 200 more branches
Monday 15 November 1999
Barclays has 1,900 branches, the second largest estate after Lloyds TSB. The industry has cut 4,000 since 1990, Barclays has shut only 150. The closure programme is expected to lead to the loss of an average two employees per branch. Barclays will consult with Unifi, the union that represents most Barclays staff, as part of its partnership agreement
A spokesman said the bank had been reshaping its operations to put greater focus on new outlets such as Internet banking, and increasing the number of ATMs, better known as "hole-in-the wall" cash machines. There are more than 25,000 cash machines in Britain and the rise of automated banking in any form and the shift of back-office processing to dedicated centres mean costly branches are not needed.
Customer research has shown the number of customers using branches regularly has fallen from more than to half to almost a third in recent years. Branch costs are still high. Salomon Smith Barney estimates the average costs of a transaction in a branch is 67.5p. For telephone banking it is 37p and the Internet costs just 7.5p. But Barclays insists it is planning an investment programme in the rest of the branch network.
- 1 Husband creates spreadsheet detailing wife's 'excuses' for turning down sex
- 2 UK pirates will get four warning letters a year
- 3 Saneie Masilela, 9, marries Helen Shabangu, 53 years his senior, for the second time
- 4 Laurie Penny: Feminist author subjected to 'vile sexist and anti-Semitic abuse' over her book
- 5 Why I'm on the brink of burning my Israeli passport
Saneie Masilela, 9, marries Helen Shabangu, 53 years his senior, for the second time
Time runs out for Christian Iraq: Isis deadline passes with mass flight
Miley Cyrus death hoax: Fans distraught after a Facebook scam goes viral and she fails to tweet for three days
Laurie Penny: Feminist author subjected to 'vile sexist and anti-Semitic abuse' over her book
Malaysia Airlines MH17 crash: France and Germany accused of going soft on Putin as sanctions talks stall
Malaysia Airlines flight MH17 crash: 'Nine Britons, 23 Americans and 80 children' feared dead after Boeing passenger jet is 'shot down' near Ukraine-Russia border
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The truth about conspiracy theories is that some require considering
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
Malaysia Airlines MH17 crash: Obama - 'We’re going to make sure that truth gets out'
- < Previous
- Next >
iJobs Money & Business
£40000 - £50000 Per Annum: Clearwater People Solutions Ltd: Business Analyst r...
£500 - £550 per day: Orgtel: BA/PM - Client Data London (Greater)
£400 - £450 per day: Orgtel: SQL Developer - Banking - London - £450pd Our cl...
£375 - £400 per day: Orgtel: SQL DBA - Banking - Gloucester - £400pd Our clie...