Brexit Gives Barclays a Headache as Fewer Staff Are Said to Exit
- Attrition rate falls as staff worried roles may leave London
- Employment costs to rise due to fintech push, senior hires
U.K., EU Ready to Begin Work on Brexit Transition
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Jes Staley’s latest problem at Barclays Plc? Not enough people want to leave.
The bank has seen a decline in staff voluntarily leaving in the aftermath of Brexit, which managers are attributing partly to fears their positions may be relocated if they switch to a rival less tied to London, according to people familiar with the trend. The lower attrition is forcing managers to reassess their workforce planning and recruitment models as Barclays tries to eliminate costs 1 billion pounds of costs ($1.3 billion), they said.