Barclays PLC has announced plans to cut over 450 jobs, prompting union Unite to demand a commitment from the bank to avoid any compulsory job losses. Despite being a highly profitable finance organization, Unite questions how Barclays can justify such staff reductions during a period of economic instability.
Unite’s national officer, Dominic Hook, expressed opposition to the job losses and intends to discuss the matter with Barclays’s chief executive in an effort to secure a guarantee against compulsory layoffs. The union also emphasized its willingness to collaborate with the bank to provide retraining and redeployment opportunities for affected employees.
Barclays responded by stating that they are continuously assessing and adjusting their operations to align with evolving customer preferences. The proposed changes aim to enhance team collaboration and improve service quality for customers and clients. Furthermore, the bank has reassured its commitment to supporting colleagues throughout this transitional period, closely working with Unite.
In their recent financial report, Barclays revealed a net attributable profit of £1.33 billion ($1.66 billion), surpassing market expectations of £1.24 billion and showing growth from the previous year’s £1.07 billion.
