Barclays to lay off 700 UK IT staff by end of year

Barclaysis set to lay off 700 IT staff in the UK by the end of the year.

Around 350 of the bank's cuts are new, and another 350 come from the 1,800 redundancies announced last year.

In the last year, Barclays has said it wants to cut costs and make more use of offshore work.

Staff were informed of the impending cuts by email. Barclays declined to comment on the news.

The jobs will move to Singapore, Hungary and India, according to the announcement last year.

The remainder of the 1,800 redundancies will take place by 2011, leaving one thousand posts in the UK Global Infrastructure and Service Delivery division, at London and Radbroke.

A separate 4,200 job cuts are taking place in investment banking, wealth management and retail banking, outside of the GISD division, but expected to affect back office staff extensively.

In another job cuts announcement today, insurer Legal & General said it will make 560 staff redundant at processing centres across the country, affecting back office staff and call centre operators.

Rob MacGregor, national officer at union Unite, expressed his alarm at all the cuts announced on one day. "The union is calling on the financial services sector to ensure that it does not simply take short-term decisions to cut staff, without consideration for future levels of service and their ability to recover from the recession," he said.

Copyright © 2009 IDG Communications, Inc.

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