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As part of the move to reduce costs, Barclays is allegedly cutting about 100 jobs from its information technology operation in Singapore.
According to reports from Bloomberg, people with knowledge of the matter have revealed that some of the positions will be moved to India.
In a statement, Barclays confirmed to Bloomberg that 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.”
This 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.
Barclays has not responded to queries by Human Resources at the time of publication.
Earlier this year the bank earlier shut its cash equities operations across Asia, eliminating about 230 jobs in the region and 1,200 positions globally.
Photo / 123RF