Brit lender Barclays axes 250 positions in India

Mumbai, Apr 29: Following two rounds of lay-offs in 2009, UK banking major Barclays axed 250 jobs in India, a spokesperson has revealed.

The corporate spokesman, who wanted to remain anonymous, told an international news agency that besides cutting 250 jobs, the British lender has also reassigned or resigned about 50 to 55 employees from the bank in the past few weeks.

Large number of the job cuts were in the collections team.

In 2009 lay-offs about 240 people lost their jobs, the spokesman added.

Earlier in 2010, Barclays said that it aims to target larger local corporates and the local operations of multinationals in India, Pakistan, Russia and the United Arab Emirates.

In line with these plans, tt said that it was scaling back retail operations in the above mentioned countries.

Besides this, the UK lender also said that corporate and investment banking, wealth management, and serving the fast-growing so-called mass affluent segment in India was on its high priority list.

OneIndia News