Barclays is to axe 900 jobs within the UK, Unite has mentioned.
The union dubbed the transfer “disgraceful” and accused the financial institution of shedding employees in an effort to “further boost its massive profits”.
Affected employees had been advised at 1pm on Tuesday, Unite mentioned.
It comes after Barclays reported quarterly pre-tax income of £1.9bn from July to September – which was higher than anticipated by analysts.
The financial institution wouldn’t affirm what number of jobs had been being reduce within the run-up to Christmas, however mentioned it was “taking a number of actions to simplify and reshape the business”.
It is the newest in a string of monetary corporations slimming down on employees numbers in latest months.
Last week it was reported that the nation’s greatest excessive road chain Lloyds was contemplating scrapping 2,500 roles as a part of a shake-up.
Many banks have additionally been reducing prices this yr by closing dozens of branches.
Unite mentioned the newest Barclays cuts would have an effect on plenty of divisions, together with its Barclays International arm and Barclays Execution Services, which supplies expertise, operations and useful providers to companies throughout the group.
It comes on high of 450 reported job cuts on the agency in September, together with the axing of 100 roles at its funding financial institution division earlier this yr.
A Barclays spokesperson mentioned the modifications had been geared toward enhancing providers and “deliver[ing] higher returns”.
They added: “This includes changes to our headcount as management layers are reduced and the group improves its technology and automation capabilities.
“We are dedicated to supporting impacted colleagues by these modifications.”
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The firm employed a complete of round 22,300 employees on the finish of final yr.
Sharon Graham, basic secretary of Unite, mentioned: “Barclays is disgracefully cutting jobs to further boost its massive profits.
“This is a mega-rich financial institution that’s already heading in the right direction to make eye-watering income this yr.”
The financial institution’s chief government CS ‘Venkat’ Venkatakrishnan revealed in October he was contemplating cuts as he unveiled its third quarter outcomes.
At the time he mentioned the financial institution noticed “further opportunities to enhance returns for shareholders through cost efficiencies and disciplined capital allocation across the group”.
Sky’s Mark Kleinman revealed on Monday that Metro Bank was in talks to dump its £3bn mortgage portfolio to Barclays.
Source: information.sky.com”