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Barclays said to be cutting about 100 Singapore technology jobs

Monday, September 5, 2016 - 20:27
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Barclays Plc is cutting about 100 jobs from its information technology operation in Singapore as part of moves to reduce costs, according to people with knowledge of the matter.

[SINGAPORE] Barclays Plc is cutting about 100 jobs from its information technology operation in Singapore as part of moves to reduce costs, according to people with knowledge of the matter.

Some of the Singapore positions will move to India, said the people, who asked not to be identified as the information is not public.

In a statement, Barclays confirmed it is in the process of cutting jobs in Singapore, but declined to say the number of people affected.

"We have now identified a number of additional roles that carry out global activity in Singapore which can be relocated," Barclays said in an e-mailed statement. "Regrettably, this will mean that roles will fall away in Singapore, and so we are working closely with the colleagues impacted to ensure they are supported throughout the process."

The latest reduction follows an earlier round of IT cutbacks in May, when some global technology roles in Singapore were moved to the bank's other technology hubs, including the one in India, London-based Barclays said in the statement.

The bank earlier this year shut its cash equities operations across Asia as part of a reduction of 1,200 positions globally.

BLOOMBERG