Jobs cuts at Barclays

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BANKING giant Barclays is to cut about 50 jobs at its Sunderland call centre.

The Doxford International posts are among almost 130 the firm is to cut across the region following a review of its commercial operation, with 78 staff in its 90-branch North East network also facing the axe.

There are about 1,500 employees at the Doxford site.

The firm announced yesterday it is to move away from offering financial planning advice through its High Street branches, a change that is likely to lead to 1,000 job losses nationwide.

The bank said there had been a decline in the commercial viability of the services in recent years, which it expected will continue, with customers increasingly buying and managing their investments online.

“Barclays has been conducting a detailed review of its financial planning advice over recent months,” the bank said in a statement.

“This review has concluded that, given the changes to the retail investment market place, it is unlikely this business would be able to deliver a return that would justify the investment required.”

Union leaders were quick to condemn the move.

Rob MacGregor, national officer of Unite, said: “Barclays management should hang their heads in shame as hard-working staff are told they no longer have a job.”

“Are the senior management of Barclays too busy counting their bonuses that they have totally lost touch with those who make their business successful?”