Barclays under fire for cutting 300 jobs at mortgage division

Jul 9 2008 by Peter McCusker, The Journal

THE UK’s biggest trade union has condemned banking giant Barclays for cutting more than 300 jobs at its home loans division.

Unite said it was incensed at the decision and called on the bank to replace the jobs being lost at the Firstplus business in Cardiff, South Wales.

Deputy general secretary Graham Goddard said: “While the union understand that the market conditions mean that the Firstplus product is no longer viable, we wholeheartedly condemn the decision to run down the Cardiff site.

“Barclays should replace the 300 jobs lost with work from other parts of the bank.

“Barclays has few large centres in Wales compared to other large banks, which makes this decision all the more regretful. We are calling on Barclays to reconsider.”

Unite said it had secured agreement from Barclays to seek alternative employment for those who wished to remain employed in the bank, although these options were likely to be limited.

Barclays said Firstplus will stop making new loans to customers from August 9 due to slowing demand.

Around 130 people will be retained in Cardiff to look after existing customers and around 300 staff will be affected by the decision, said Barclays, adding that every effort was being made to find them alternative jobs across the Barclays businesses.