'Colossal' mistake as Barclays to axe 1,700 jobs

Barclays will axe 1,700 jobs from its branches after reacting to consumers’ changing banking behaviours.

The bank announced the cuts as it prepares to reduce the number of branches it operates nationwide.

Barclays said in a statement that the way people accessed banking services was changing rapidly, with more using smart phones and other technology.

Barclays staff will have the opportunity to volunteer for redundancy, and the bank said staff would be “fully consulted” and “have access to the support…they require”.

The Unite Union, which represents some bank staff, has been scathing of the move, saying Barclays was making a “colossal mistake” and that customer service could suffer as a result.

Barclays has 1,577 branches employing 33,600 staff.

The job cuts, equivalent to one staff member per branch, will commence in 2014 and will involve a host of frontline roles including cashiers, personal bankers, operational specialists, and branch and assistant managers.

Unite’s national officer, Dominic Hook, said: “These employees deliver high levels of service that customers of the bank benefit from.

“Such a massive reduction will be very detrimental to the bank and will also be hugely challenging for the staff remaining.”

The union said it would have “urgent” discussions with Barclays in an attempt to put forward alternative proposals.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →