BARC Barclays Plc

By Ian Walker

Barclays PLC is cutting more than 450 jobs, union Unite said Tuesday, calling on the bank to commit to no compulsory job losses.

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

He said that the union is opposed to the job losses and plans to meet with Barclays's chief executive to press for a guarantee of no compulsory job losses at the bank.

Unite said that it is willing to work with the bank to ensure staff are given retraining and redeployment opportunities.

"We continue to review and adapt our operations based on the ways customers are choosing to interact with us. These changes will enable greater collaboration across our teams, allowing us to continue to improve service for customers and clients," a Barclays spokesperson said.

"We are committed to supporting colleagues through this change, working closely with Unite."

On July 27, the FTSE 100-listed group reported a net attributable profit of 1.33 billion pounds ($1.66 billion), up from GBP1.07 billion and beating market forecasts for GBP1.24 billion.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

September 12, 2023 10:56 ET (14:56 GMT)

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