A Barclays spokesman said: “In order to drive collaboration, Barclays is moving teams closer together at our UK sites in Glasgow, Greater Manchester and Northampton; where we are investing in new campuses and office space. Updates with details in fourth and fifth paragraphs. 2020 review: Top 10 fintech and bank M&A deals. British banking giant Barclays has decided to temporarily suspend new job cuts in the wake of the ongoing coronavirus (Covid-19) pandemic, Reuters reported. The decision to close the major Barclays site in Leeds will be devastating for the workforce and the local community. Virgin Cash slashes 400 jobs following authorities grant. The bank is putting a further 340 staff on notice for job cuts or relocations across the country. Bloomberg reports that Barclays is letting go of around 100 senior people in its investment bank globally, with trimming taking place in London and Asia before end of year results and bonuses are announced in February. Barclays Halts New Job Cuts During Coronavirus Crisis: Memo . — With assistance by Cathy Chan, and Stefania Spezzati, British lender is focused on keeping a tight grip on expenses, Bank is due to report its full-year results in February. Barclays warns of cuts as Covid pushes bad debt charges to £4.3bn, Amanda Staveley case against Barclays enters final week, It's easy to see why Barclays' shares fell despite good figures, Barclays profits plunge as it puts aside £1.6bn for Covid-19 defaults, Barclays, HSBC and Lloyds among UK banks that had links to slavery, Barclays may have to put aside £4.5bn to cover bad debts due to coronavirus, Barclays CEO avoids vote against re-election over Epstein ties, Barclays not liable for alleged sexual assaults during medicals, court rules. Read More: Banks Had Biggest Job Cull Since 2015. Last year saw several European lenders reshape their securities units, eliminating thousands of roles amid increasing competition from U.S. peers and a lackluster home market. Published Mon, Mar 23 2020 9:25 AM EDT Updated Mon, Mar 23 2020 10:52 AM EDT. Barclays is to cut 250 jobs across a number of UK sites and shut down a large office in Leeds as part of an overhaul that will affect around 1,000 staff. The bank publicly committed last month to pause plans to cut 780 jobs amid surging customer demand and the economic uncertainty leavers would face. FILE PHOTO: The logo of Barclays bank is seen on glass lamps outside of … Helpdesk Click here to connect with our resourcing helpdesk team? Business Comment. Barclays Halts New Job Cuts During Coronavirus Crisis: Memo More FILE PHOTO: The logo of Barclays bank is seen on glass lamps outside of … The jobs will go from the bank’s base on the Westwood Business Park. The job cuts are across all areas of the bank and are deeper than previous rounds of reductions, including the elimination of 1,850 jobs, or four per cent of the workforce, in May 2016, and the 1,000 positions cut in 2007. NYSE to Delist Chinese Telco Giants on U.S. Executive Order, U.S. Jobless Claims Post Surprise Drop, Shadowed by Virus Risks, N.Y. and California End Year Shattering Records: Virus Update, Singapore and Malaysia Terminate High Speed Rail Project, Faster-Spreading Covid Strain Affects Young the Most, Study Says. Barclays halts new job cuts during coronavirus crisis: memo Barclays has halted new job cuts while the coronavirus crisis is ongoing, the bank said … Barclays halts new job cuts during coronavirus crisis: memo Barclays has halted new job cuts while the coronavirus crisis is ongoing, the bank said … Major upset in top ranks at Barclays. Ryan Weeks Tuesday April 14, 2020 11:32 am Barclays has told staff this week that it will halt a round of job cuts and offer financial support to employees hit by recent redundancy programmes amid the Covid-19 crisis. Barclays has put aside £2.1bn to cover loans which customers will be unable to repay as it braces for millions of job losses in Britain and the US and a … Virgin’s discount is a part of a 16% lower within the agency’s headcount, a legacy from its merger with Clydesdale and Yorkshire Banking Group (CYBG). 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