According to media reports, UK high street banking giant Barclays is to cut approximately 1,100 jobs from its offices based in Poole, Dorset, over the next three years, in a bid to increase efficiency.
Reuters reported that 400 of these jobs will be moved overseas, while 200 positions are expected to be relocated to other UK sites.
The redundancies are being made as the bank automates more of its systems for greater efficiency. For example, check processing will be upgraded to be handled by computers, the Guardian has reported. Other areas which may be affected include IT support and some HR functions.
According to the BBC, the bank currently employs around 1,900 members of staff at its Dorset site.
Media reports claim that the job slashes are unrelated to the bank’s proposed takeover of Dutch lender ABN Amro.