More Barclays staff to switch offices

Singapore

Pack those desks.

Barclays is moving more employees to an office in Singapore’s central business district from the suburbs to cut costs, said people familiar with the matter.

Bloomberg reports that Barclays will terminate its lease on about 15,500 square feet (1,440 square meters) of office space at a building in Tampines, an eastern suburb, and relocate the employees to Marina Bay Financial Centre by July, said one of the people, who asked not to be named because the information is private.

About 300 people who work in back-office roles will be affected, the person said. Barclays declined to comment in an e-mailed response.

It follows a similar move by the bank earlier this year when it exited Changi Business Park, another suburban office in the island-state, and relocated about 200 employees to the downtown office. Antony Jenkins, who replaced Bob Diamond as the bank’s CEO in 2012, is eliminating 12,000 jobs to curb costs and boost profitability.

To access the complete Bloomberg article hit the link below:

Barclays Said to Move More Singapore Staff in Suburb to City

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