SOME local Barclays staff could lose their job if it merges with Dutch bank ABN Amro. The move would create one of the world’s biggest banks, valued at £94bn.
The companies confirmed the move would result in 12,800 jobs being cut - 10% of the combined workforce across 64 countries - with a further 10,800 moved to low-cost locations.
Mark Leaman, the director of Barclays Wealth in Guernsey, said yesterday that he was unable comment about the merger.
‘There are strict protocols in place preventing me from saying anything.’
He was spending yesterday and today at meetings in London.
Robin Tozer of Barclays’ headquarters press office said yesterday that it was too early to go into any specifics and he could not comment on the implications for Guernsey.
‘We have just announced our intention to merge and have been very clear and up front in that we expect it will result in a net reduction of staff,’ he said. ‘We cannot say this is not going to happen, but are not in a position to talk about specific locations or bank functions.’
The group employs 120 staff locally in high-street banking services, at Barclays Wealth and corporate services and at the Woolwich.
Barclays and ABN said they expected most of the cuts would be achieved through natural wastage, the majority coming in the UK, Spain and Italy.
But there is speculation that some redundancies would be performance-related.
British unions have claimed they will seek assurances from Barclays that it would not impose redundancies.
An Amicus spokesman said: ‘We have every confidence that this process of change can be managed through our existing job security agreements.’
Article posted on 25th April, 2007 - 12.00am
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