Leading global bank Barclays on Thursday said it has laid off around 250 staff in India in the last three days, predominantly from its collection team.
The British bank has also redeployed around 50 staff to other Barclays entities in India and overseas.
"It is with great regret that we have laid off around 250 of our staff in the last three days. They are mostly from our collection team. Besides, we have reassigned around 50 staff to other Barclays entities, both here and abroad," a Barclays spokesperson told PTI.
With the economy bullish, people have now started making their repayments on time and hence, there was a need to trim the size of the bank's collection team, the spokesperson said.
"We have decided to change our collection strategy," he said, without revealing any details. The bank presently has a headcount (post the lay-offs) of over 5,000 in the country spread across five Barclays entities - Barclays Corporate, Barclays Capital, Barclays Shared Services, Barclays Technology Centre in India and Barclays Wealth.
"There have been no lay-offs in any Barclays entity barring Barclays Corporate," the spokesperson said.
© 2025