Barclays adds to the gloom and slashes IT workforce

Barclays (LON:BARC) announced they were cutting over 400 jobs from its IT departments in London, Northampton and Cheshire.

The job cuts include 250 contractors and 158 permanent staff who had duplicate roles across the entire Barclays group, this adds to the doom and gloom that is surrounding the financial sector today.

It’s not certain at present if the job cuts at Barclays include compulsory redundancies according to the banks spokeswomen as they have only just started the process, she also added that Barclays will be offering several options for the staff members who are affected, including other roles within the bank.

The UKs largest trade union, Unite said that the cut’s to the Barclays workforce comes as a bitter blow.
Employees across the financial sector are under huge pressure as they continue to fear for their jobs, and the job cuts at Barclay’s signals there is still worse to come.

Source: Guardian