A MAJOR high street bank is said to be drawing up plans to cut hundreds of jobs, as it prepares to close nine sites in days.
Barclays bank, which has around 480 branches nationwide, is looking to axe the roles in a bid to trim costs, according to Reuters.
It comes amid a wider strategy review which could see as many as 400 jobs cut across its domestic retail business.
Although the exact number has not been finalised as yet.
Another source reportedly said Barclays is planning investment bank cuts, that are part of annual assessments of bankers performances.
The two separate rounds of cuts are not said to be related.
READ MORE IN MONEY
All the high street banks closing branches in September including Barclays
Martin Lewis’ MSE reveals banks giving out free cash as fan gets £1,100 in 8 months
A number of retail staff could be redeployed to nearby branches or offered voluntary redundancy.
A Barclays spokesperson told The Sun: "We do not comment on speculation.
"We regularly review our operations to ensure we meet the evolving needs of our customers and clients in an efficient and effective way."
It comes as Barclays is preparing to close a further nine branches in the coming days, following dozens of closures this year already.
Most read in Money
Wilko confirms 52 shops are closing down as it continues in-store discounts
Thousands of households to get up to £450 supermarket vouchers – how to apply
Nine rare McDonald’s Monopoly pieces to look for as full menu revealed
Martin Lewis’ prediction on when next £300 cost of living payment will hit banks
Data from the UK's largest cash machine network, LINK, keeps track of any planned branch closures across the UK.
The following branches are set to close for a final time this month:
- Falmouth – September 15
- Cambridge – September 15
- Hemsworth – September 15
- Lichfield – September 15
- Bournemouth – September 20
- Pontefract – September 22
- Redditch – September 29
- Bude – September 29
- Mayfair, London – September 29
Barclays also previously closed three sites just yesterday, and six the week before.
Most recently the high street bank announced it will be bringing the shutters down in 15 more towns and cities in November and December this year.
The closures come as big banks look to move more of their services online.
Several major banks have also signposted branches to shut, including NatWest, Lloyds Banking Group, Virgin Money and Halifax.
Many people, especially the elderly population, rely heavily on in-person services and the closures will make it more difficult for them to access services.
You can find your nearest branch using the locator tool on each banks' website.
But there are still a number of ways in which impacted customers can access basic banking services without having to head over to the next town.
If the latest raft of closures will leave you without a branch in your town, you should be able to do most basic tasks at your local Post Office.
You can use one of the Post Office’s nearly 12,000 branches to perform basic tasks — but you can't open new bank accounts or take personal loans and mortgages.
Several banks also offer a mobile banking service, which is where your bank brings a bus to your local area that has the services that are usually available at your branch.
You should call up your bank to see if it runs such a service and they will be able to tell you where and when it will be parked.
Other banks use buildings such as village halls or libraries to offer mobile banking services.
Banking hubs, which offer traditional shared services, have also been set up in several locations around the UK to help plug the gap — including Brixham, Cambuslang, Cottingham and Rochford.
Read More on The Sun
Ex paramedic reveals five popular foods you should never give kids under 5
Huge star to front Asda’s Christmas ad after signing mega-money deal
Meanwhile, we round up all of the branches set to close in September.
Plus, check out all the branches set to close throughout 2023.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
Source: Read Full Article