Banking giant Barclays 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 said the jobs would go across a number of back-office divisions, including compliance, finance, legal, policy, IT and risk.
Affected staff were told at lunchtime on Tuesday, according to the union.
Barclays did not confirm numbers, but said it was taking actions to cut its workforce “as management layers are reduced and the group improves its technology and automation capabilities”.
Unite branded the decision to axe staff in the lead-up to Christmas “disgraceful”.
A spokesman for Barclays said: “We are taking a number of actions to simplify and reshape the business, improve service, and deliver higher returns.
“This includes changes to our headcount as management layers are reduced and the group improves its technology and automation capabilities.
“We are committed to supporting impacted colleagues through these changes.”
It comes amid reports the lender is working on plans to slash up to £1 billion as part of a strategic overhaul to buoy profits.
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.”
Unite added that the divisions impacted by the job cuts included Barclays International and Barclays Execution Services, which provides technology, operations and functional services to businesses across the group.
