Barclays to axe over 400 jobs

The finance sector suffered a fresh jobs blow today when Barclays announced plans to axe over 400 posts under "essential changes" to its technology and infrastructure division.

The bank said it would make every effort to mitigate compulsory redundancies, pointing out that the 422 job losses represented 0.74% of its UK staff.

David Fleming, national officer of the Unite union, said: "The decision by Barclays Technology to cut 422 jobs is a New Year's blow for the staff.

"Unite has strongly opposed the sending of some of this work to Lithuania, when there are already highly trained workers carrying out this work.

"The vast majority of jobs will be going from Radbrooke Hall, Cheshire. There will also be jobs cut in Northampton and a scattering among other sites around the country."

Barclays denied that work was being transferred to Lithuania. A spokesman said: "We need to make essential changes to our technology and infrastructure division so that we can innovate in new technologies and services for our customers, and be as effective and efficient as possible.

"Whilst regrettably this will mean job losses, we will make every effort to mitigate compulsory redundancies and are working closely with Unite and impacted staff."

The bank will open a voluntary redundancy register under moves to minimise compulsory job losses.

PA