Barclays is ‘not confirming’ whether there will be redundancies in its Isle of Man offices amid a global ‘modernisation’ programme.

The BBC reported last week that the British multinational bank would be cutting 5,000 of its staff as it plans to integrate ‘more artificial intelligence (AI) into its work processes’.

When asked whether any of these job losses would impact the island, a spokesperson for Barclays stated that the number of redundancies for a certain region would not be confirmed.

The spokesperson said: ‘We are positioning Barclays for the future, building the workforce and skills needed to deliver our strategy and meet the evolving needs of our customers and clients.

‘In doing so we are committed to helping our colleagues develop and build rewarding careers, while meeting the changing needs of customers and clients and ensuring Barclays continues to succeed in the years ahead.

‘This includes investing £150m in our colleagues’ future skills by 2030, with 40,000 colleagues having already accessed our AI learning, which is available to all.

‘For those who may be impacted by these changes, we provide a tailored career support and coaching service.’

Barclays currently has one main public-facing bank branch in the Isle of Man, based in Victoria Road in Douglas. Its former branches in Castletown and Ramsey have now closed.

Barclays also has an international banking office at Eagle Court, 25 Circular Road, Douglas, which is listed as the principal business address of its island branch.

According to the BBC, 1,000 roles have already been cut, with a further 4,000 expected to go by the end of the year. Together, the reductions would account for around 5% of its global workforce.