Barclays creating 2,500 jobs in Glasgow at new technology hub – doubling its Scottish workforce
Barclays is creating 2,500 jobs in Glasgow at a new technology hub – doubling its Scottish workforce.
The bank is building a 470,000 sq ft office complex – the size of eight football pitches – by the River Clyde.
There will be no redundancies amid the changes.
On your bike: The bank is building a 470,000 sq ft office complex – the size of eight football pitches – by the River Clyde
Chief operating officer Paul Compton said: ‘This new campus is a flagship project for the bank, which builds on Barclays’ long history in Scotland and clearly demonstrates our commitment to supporting the UK economy.’
The development at Buchanan Wharf is backed by £12.75m from taxpayer-funded Scottish Enterprise.
As part of the deal, Barclays has pledged that at least 42 per cent of the jobs will go to highly skilled workers, while 341 jobs will go to disabled workers or disadvantaged people such as the long-term unemployed.
Barclays has agreed to buy the site from Drum Property Group, and aims to begin moving in staff in 2021.
Barclays and other major British banks are battling against new rivals in the market, from small lenders such as Monzo to Silicon Valley behemoths including Apple and Google.
The bank’s Glasgow office will develop new products and technologies in a bid to stay ahead of these competitors.
There is a scramble to improve mobile apps and internet banking as the biggest lenders push their customers online and close branches to cut costs. Barclays alone axed 98 outlets last year.
Around 5,000 City banking jobs could be moved abroad to avoid disruption when the UK leaves the European Union, according to a Reuters study.
However, the Barclays recruits alone will replace half that number and the move suggests that the bank remains optimistic about the country’s future after Brexit.
…FACEBOOK AT IT TOO
Facebook is doubling its office space in London, creating space for a total of 6,000 workers.
The social network has leased two buildings in King’s Cross totalling almost 600,000 sq ft.
Last year it brought 800 new jobs to the UK. It expects to employ 2,300 people in the capital by the end of this year in its current sites.
The London team will use artificial intelligence to help decide what constitutes hate speech. Steve Hatch, Facebook’s managing director for Northern Europe, said the city is now its biggest engineering base outside the US.