Barclays to cut more than 450 jobs, says Unite

12th Sep 2023 13:47

(Sharecast News) - Barclays is cutting more than 450 jobs, the Unite union announced on Tuesday.

Unite branded the decision "unnecessary and unjustified".

The union's national officer, Dominic Hook, said: "How can a profitable finance organisation such as Barclays slash over 450 staff amid a cost-of-living crisis? This isn't an organisation struggling to survive, this bank is making billions of pounds of profits.

"If these plans for compulsory redundancy are implemented then hundreds of families will lose their livelihoods and face financial hardship because of a management decision which is both unnecessary and unjustified.

"The staff losing their jobs are not highly paid rich City bankers but those earning modest salaries within Barclays. These employees worked throughout the Covid pandemic to help to deliver the highest customer service to Barclays customers. These workers deserve better."

Unite, which is due to meet the bank's chief executive to press for a guarantee of no compulsory job losses, urged Barclays to scrap the plans and reconsider.

"Unite is willing to work with the bank to ensure staff are given re-training and redeployment opportunities," it said.

In July, Barclays posted a second-quarter net profit of £1.3bn, up 24% on the same period a year earlier.