Barclays Bank has announced plans to cull over 400 staff working in its technology and infrastructure group as part of a restructuring plan designed to boost efficiencies and innovation.
The 422 staff form less than one per cent of Barclays' 57,000 strong UK work force and the firm was quick to point out that it will be trying to redeploy affected staff in other roles. It will also be offering voluntary redundancy packages to all in a bid to minimise the number of compulsory redundancies.
"We need to make essential changes to our technology and infrastructure division so that we can innovate in new technologies and services for our customers, and be as effective and efficient as possible," noted a Barclays statement on the job losses.
"Whilst regrettably this will mean job losses, we will make every effort to mitigate compulsory redundancies and are working closely with Unite and impacted staff."
However, Unite issued its own statement indicating that the two parties have not seen eye-to-eye over the way the redundancies were handled.
"The decision by Barclays Technology to cut 422 jobs is a new year's blow for the staff," said Unite national officer, David Fleming.
"Unite has strongly opposed the sending of some of this work to Lithuania, when there are already highly trained workers carrying out this work."
For its part, Barclays rejected the claim that some of the work was being offshored.
"The re-structure will create a net reduction in jobs both in the UK and overseas," it said. "We will continue to base the majority of this division's staff in the UK."