Unions blast Barclays over speculation of imminent cut in branches
Barclays is also poised to axe 400 investment bank jobs on top of the 1700 it announced a year ago in a bid to slash costs
Wednesday 29 January 2014
Trade unions and consumer groups have reacted angrily to reports that Barclays could close up to a quarter of its 1600 branches over the next few years.
Dominic Hook, national officer for the Unite union, said: "Barclays must not embark on this reckless rush to close branches and fill others with machines instead of staff. There will be a significant cost to customer service in Barclays. Unite has called on Barclays to halt their closure plan."
Barclays has issued a statement saying it has no intention to make a "significant reduction" of its branch network, after reports suggested it would replace 400 sites by smaller outlets inside Asda supermarkets, alongside its full year results in two weeks time.
The lender admitted that "there will be fewer traditional branches" but insisted that its network is still an important of its banking service.
A spokesperson said: "We have consistently been clear that, over time, there will be fewer traditional branches as we move to provide banking services to customers where and when they find it most convenient.
"This will be driven by the needs of our customers and, therefore, there is not a target for a number of branches to be closed, nor a time frame for such action."
Barclays also said the results, on 11 February, will include additional charges against costs of £220 million and and again against income of £110 million pounds in its investment bank, “relating to litigation and regulatory penalties.”
Derek French, director of the Campaign for Community Banking, believes banks should seriously look at sharing branches.
He said: "It is not too late for government to step in and tell the industry they must have an independent and objective appraisal of branch sharing."
Barclays is also poised to get rid of another 400 investment bankers, on top of the 1700 it announced a year ago, as part of Jenkins’ cost-cutting regime.
The news came as Deutsche Bank, which employs 8500 people in the UK, revealed it cut investment bankers’ pay by 23 per cent last year from a total 1.3 billion (£1.07 billion) to 1 billion.
Speculation over Barclays' branches follows an announcement yesterday by Lloyds Banking Group of 1,080 job losses across its retail, risk, operations and commercial banking divisions, and plans to outsource more than 300 roles, as part of a continuing overhaul of the business.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
- 2 Loom bands: Bids for dress made from colourful rubber pass £170,000 on eBay
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...