Barclays is to cut between 100 and 200 back-office and technology jobs from its Singapore offices in a bid to reduce costs, with many of the positions said to be transferring to lower-cost centres, notably India, according to unnamed sources. A spokeswoman said in a statement the bank was "working closely with the colleagues impacted to ensure they are supported throughout the process." The cuts will affect about 1,000 staff at Barclays' Asia Pacific headquarters as well as some operations in Hong Kong, Singapore, Tokyo and London.
Barclays is to cut between 100 and 200 back-office and technology jobs from its Singapore offices in a bid to reduce costs, with many of the positions said to be transferring to lower-cost centres, notably India, according to unnamed sources. A spokeswoman said in a statement the bank was "working closely with the colleagues impacted to ensure they are supported throughout the process." In January, Barclays announced it would cut 1,000 jobs and close its cash equities business in Asia.