Barclays to cut staff through natural wastage

Barclays confirmed that it will lose more than a 1,000
jobs as a result of its merger with Woolwich.

The bank claimed it will be achieved through natural
wastage and voluntary redundancies.

In August this year, the bank announced that it would merge
nearly 100 branches that are located close to each other. 

Barclays operating profits for 2000 rose by 21 per cent to
£3.6bn from £3bn, with the Woolwich contributing £70m to this in the two months
after it was bought.

As reported in January 2001, a further 750 jobs are to go as
a result of Barclays’ move to close its life insurance division and transfer
new business to Legal & General.

By Karen Higginbottom

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