Barclays has reportedly put 900 UK jobs at risk of redundancy.

According to worker union Unite, UK-based workers at the bank were informed of the potential cuts at lunchtime on Tuesday.

The decision, branded as ‘disgraceful by Unite’ in light of its timing in the build up to Christmas, comes as the bank attempts to save up to £1 billion by cutting as many as 2,000 jobs globally.

Unite argued that the cuts are not necessary, with the bank making £6.4 billion in profits for the first nine months of 2023 and handing out £2.7 billion to shareholders over the last two years. The union has called on Barclays to avoid all compulsory redundancies and redeploy staff in the impacted areas of the business.

Sharon Graham, general secretary at Unite, said: “Barclays is disgracefully cutting jobs to further boost its massive profits. This is a mega-rich bank that is already on course to make eye watering profits this year.”

While not confirming the numbers, a spokesperson for Barclays told Reuters: "We are taking a number of actions to simplify and reshape the business, improve service, and deliver higher returns. This includes changes to our headcount as management layers are reduced and the Group improves its technology and automation capabilities.”

Barclays chief exec C.S. Venkatakrishnan is looking to improve the bank’s bottom line ahead of an investor update in February.

The bank is also currently facing a lawsuit from investors in its US-listed securities for allegedly misleading shareholders over former chief exec Jes Staley’s relationship with the late disgraced financier Jeffrey Epstein. The lawsuit, filed in a Los Angeles court, claims that Barclays knew or should have known more about Staley’s relationship with Epstein than it publicly acknowledged.

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