Barclays is continuing IT cost cutting by laying off a further 400 tech staff supporting the group as a whole. Meanwhile, BarCap is thought to be on something of a technology recruitment drive as it develops its European cash equities platform.
The layoffs will affect 150 permanent staff and 250 contractors in London and Cheshire in Barclays' 'global infrastructure and service delivery' division. Staff chopped will be those whose "roles and responsibilities are unclear," or whose jobs are duplicated elsewhere in the bank.
But while blood is being let in Cheshire, rumour has it BarCap is looking for tech talent in London. The bank is building a cash equities capability and is said to be interested in hiring developers to work on its platform.
One headhunter says he's placed two senior developers who "indicated there were big plans for projects around the cash equity space."
Another recruiter says BarCap intends to hire large numbers of tech staff over the next six months.
"The platform being built is based around Java and they're looking for a good number of development and support staff as well as a few business analysts," they said.
BarCap declined to comment.