Redundancies at Barclays

Reuters have warned that a significant number of jobs are at risk of redundancy at Barclays as government support measures were withdrawn. They also reported that Barclays has hinted that it could close more branches in the UK as a result of more customers banking online since the pandemic.

A dismissal by reason of redundancy is recognised as a fair reason for dismissal under the Employment Rights Act 1996. However, redundancy dismissals may be unfair if an employer fails to:

1. establish a genuine redundancy situation;
2. consult with affected employees prior to dismissal;
3. select an objective selection criteria;
4. consider alternative employment.

Furthermore, if Barclays proposes to dismiss as redundant more than 20 employees within a period of 90 days, then the bank is under a duty to collectively consult with ‘appropriate representatives’ (trade union representatives or elected employee representatives) of the workers.

At the end of the consultation period, employees selected for dismissal will probably be offered settlement agreements. A settlement agreement is a legally binding agreement, that is used to settle employment law disputes on the termination of employment.

If your job is at risk of redundancy as a result of the current situation, or if you have received a settlement agreement from Barclays or another bank, please get in touch with our highly rated employment solicitors for a no obligation informal discussion on 0207 965 8699 or email info@rllaw.co.uk. We regularly advise senior executives and employees from the financial services sector on redundancies, including the terms and effect of any settlement agreement. If necessary, we renegotiate bespoke terms of exit for our clients in order to improve their position on the termination of employment.