News

Barclays announced today a major reorganizing plan. The good news is that the bank is willing to reduce its speculative activities, shifting and refocusing its priorities from investment bank to real banking. However, this plan will have a major impact on jobs, with 14,000 positions to be cut globally in 2014.

As a response to this plan, the UNI Secretary General Philip Jennings said:

"Barclays workers are enduring a period of intense and unprecedented upheaval at a time when stress and health problems have never been worse in the banking sector.

"For how long will bank employees have to bear the brunt of poor decisions made by executives in the past? All the while the big boss bonus culture continues unabated.

“Barclays must reinvest in job creation in retail operations and recognise the efforts of its loyal workforce. As the global union for the finance sector, our advice to banking staff everywhere: join a union and get your voice heard.”

For Dominic Hook, UNITE Legal and Financial Officer and UNI Europa Finance Vice-President:

"These have been extraordinarily turbulent times for ordinary Barclays workers who have worked hard to keep the bank on track against a backdrop of continued uncertainty and redundancies.

The bank needs to recognise their tireless work to put customers first while jobs have been lost and give reassurances over their futures."

UNI Finance will also monitor carefully the impact of Barclays plan on employment in other parts of Europe.