Market Chatter: Barclays Faces Employee Backlash Over New Back-to-Office Rules

MT Newswires Live09-17 16:43

Barclays (BCS) employees are speaking out against a scheme to draw thousands of workers back to the office, the Financial Times reported Thursday.

Currently, those who live more than 40 minutes away are required to come into the office twice a week, but Barclays wants to up it to three days a week, with senior officials expected to come in at least four days, the report said.

Unite, a union representing 80% of the bank's 45,000 UK personnel, is calling for the plans to be shelved, and has encouraged workers to sign an open letter opposing the plans, the report said.

Unite is also seeking a one-time payment to compensate employees for increased commuting costs and said 94% of respondents to its latest survey favored delaying the changes until consultations with the union are completed, the report said.

Barclays did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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