Barclaycard to cut 250 jobs

The
credit card arm of Barclays has announced that is to cut 250 jobs at its head
office in Northampton.

The
redundancies, which will come from operational, marketing and other support
areas, follow the merger of the UK business of Barclaycard with the bank’s
consumer lending operation earlier this year.

Barclaycard
chief executive, Gary Hoffman, said efforts would be made to find new posts for
the 250 staff within the Barclays group.

"In
the short term, there are savings we must make by driving out duplication to
reduce head office costs," he said.

"We
have to take this kind of step to ensure we remain competitive in the market
and maintain a business which is here for the long term."

However,
Mick McTiernan, national officer of finance union Unifi, said: "We are
disappointed at the potential loss of 250 jobs. We have made it very clear to
Barclaycard that we see no need for any compulsory redundancies.

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"The
company believes it can deal with the situation through voluntary redundancies
or finding alternative employment."

By Daniel Thomas