Barclays job losses won't affect Island

It's claimed today's announcement of job losses at Barclays won't affect the Isle of Man workforce.

A spokesman for the company has told Manx Radio that the 2014 UK job loss number has today gone up from 7,000 to 8,000 – the extra 1,000 being investment bankers.

However, none of these extra bankers are based on the island, so today’s announcement doesn’t impact the Isle of Man in terms of job losses.

Barclays has already announced 7,000 investment banking roles will be going over three years, which may include positions on the Island, though they point out 4,000 of these cuts have already been made. This is in addition to 12,000 global jobs going across the Group, which was announced in February.