1,800 IT Jobs To Be Offshore As Barclays Slashes Costs

As many as 1,800 IT jobs in global infrastructure and service delivery wing of Barclays Bank will be axed in UK in next three years, primarily owing to the bank outsourcing and offshoring these posts.

Around 700 jobs will be transferred to India, Hungary, and Singapore, this year, whereas the remaining 1000 jobs will be moved within the next two years.

“Some roles will move offshore and colleagues will have the opportunity to apply for these roles and relocate”, the bank said.

IT contractors and temporary staff would be among the worst hit, whereas the bank would provide with permanent staff members with new roles within the firm.

Barclays has justified the move by mentioning the need of centrally-managed technologies in centres of excellence, which would allow the bank to be operational 24/7. (ed : new lingo for cost-cutting?)

“Unite”, the union of workers affected by the move, stated that it is continuously negotiating with the bank on employee’s rehabilitation issues.

Affected workers will be intimated by three months working notice, and three months paid notice of redundancy.

Moreover, those who are seeking training externally would be liable for a retraining allowance worth £2000.