09/12/2023 – 11:56
Union United said on Tuesday 12 that Barclays would cut 450 jobs, asking the bank not to make compulsory redundancies in the United Kingdom.
“How can a profitable financial firm like Barclays cut more than 450 employees in the midst of a cost-of-living crisis? This is not an organization struggling to survive, this bank is making billions of pounds in profits,” said Dominic Hook, head of the union’s finance and legal department.
Hook said the union opposes the cuts and plans to meet with the bank’s chief executive to guarantee there will be no forced cuts at the corporation.
Unite said it wants to work with the bank to ensure victims receive in-house training and overseas opportunities.
On July 27, Barclays reported second-quarter net profit of 1.33 billion pounds ($1.66 billion), up from a year earlier and above analysts’ forecasts.
Barclays was not available for comment. Source: Dow Jones Newswires.
Henry Blackwell is a contributor at Mediarunsearch.co.uk, covering a wide range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on delivering clear, balanced reporting and useful information that helps readers stay informed about current events and emerging developments. His work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism.