Barclays Axes 7,000 UK Jobs

As banking giant Barclays announces they will axe 7,000 UK jobs, in a bizarre statement they claim that the closure of hundreds of branches will actually improve service...

With the loss of 12,000 jobs worldwide, the UK total will be a huge blow to unemployment figures and as a spokesperson for Barclays blamed the increasing use of online services for the cuts it seems technology spells the death knell for branches.

In an interview with the Daily Mail, Barclays Chief Executive Antony Jenkins said the bank would start shutting down branches more aggressively as more people bank online or on mobile phones. Mr Jenkins has promised to turn Barclays into the 'go to' bank.

Claiming that for Barclays 17 million customers the increased use of online services will lead to a 'better customer experience'.  With 3 million of those customers already banking by smartphone, Mr Jenkins added "It means customers can do their banking when it's convenient for them rather than when it's convenient for us".

As fears grow about redundancies in the bank, critics are also quick to point out the impact the closure of branches will have on the elderly and for local businesses on the high street. 

As bank bonuses have risen this year by 13 percent, concerns are mounting from the Campaign for Community Banking Services who insist that Barclays comments about online banking making life easier will not help elderly customers and those with mobility problems.

Derek French from the campaign asks "How many miles will they have to travel to get to his 'go to' bank?" 

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