Barclays PLC (LSE:BARC) is cutting 900 jobs in its UK business as it looks to slash costs in a “disgraceful” pre-Christmas move, trade union Unite has said.
Unite secretary general Sharon Graham said the bank was cutting jobs in compliance, finance, legal, policy, IT and risk to “further boost its massive profits”.
Barclays said it was “taking a number of actions to simplify and reshape the business”, including changes to headcount as automation capabilities are improved.
It added: “We are committed to supporting impacted colleagues through these changes.”
Unite said staff were informed at lunchtime Tuesday.
Sharon Graham, general secretary of Unite, said: "Barclays is disgracefully cutting jobs to further boost its massive profits."
"This is a mega-rich bank that is already on course to make eye-watering profits this year."
Earlier, the Financial Times reported that the lender was considering axing a number of investment banking clients as part of cost-cutting drive.