Barclays to cut 35 jobs as payment processing work moves off island



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Barclays today announced that 35 jobs are being lost in the Isle of Man.

The roles are in the payment processing team.

It is another blow for the island’s banking sector which is already reeling from news of other job losses at other banks.

The payment processing work will be shifted to other centres but the majority of this work is understood to be undertaken in Glasgow.

Barclays is hoping to redeploy workers to other departments.

But also today the banking giant announced it was committed to the island and will be creating 25 new roles later this year in the client service centre in Douglas.

A Barclays spokesman said: ‘As part of an initiative to reduce complexity, consolidate shared skill sets and improve efficiencies in our business, we have decided to move the payment processing work undertaken in the Isle of Man to alternate, existing global payments centres.

‘While this transition will have an impact on some employees, we have a range of redeployment options available in order to minimise the number affected.

‘We remain committed to the Isle of Man and aim to balance these changes with plans to create a number of new roles within our client service centre on the island and to continue to build out our front-office capabilities.’

Staff were being informed of the changes today. Barclays say more than 600 people are employed by the company, one of the largest in the island.

The year 2014 has got off to a rocky start for the banking sector.

More than 20 jobs are to go at Santander’s banking centre in Douglas. The company says it’s cutting staff numbers from 53 to 32 in the year ahead.

Around 3o jobs are going as Britannia announced it was leaving the island.

And the Isle of Man government launched its Vision 2020 blueprint and warned the financial services sector is expected to shrink.

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