Possible job losses at Barclays

Barclays Wealth and Investment Management has announced possible job losses in its Island operation.

The move comes as part of a reorganisation within the company which will see payments processing move to another office in the UK.

The company says the changes will reduce complexity and improve efficiency and as many of its staff as possible will be redeployed, either in the Island or in the UK.

Up to 35 posts are being lost over the next six to nine months – but Barclays says it’s creating another 25 jobs at its client services centre.

The business employs 600 people in the Isle of Man and has spoken to the government about the changes today.