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Barclays to cut 750 ING Direct roles

Barclays is making 750 ING Direct roles redundant after it acquired the provider’s mortgage and savings books.

In April, Money Marketing revealed Barclays had placed the staff on a 90-day consultation after completing a deal to acquire ING’s £10.9bn deposit book and £5.6bn mortgage book in February. The consultation has now ended and staff have been informed of the decision.

Barclays has confirmed the staff will leave in batches over the next 18 months. It says it will try to offer staff roles in other parts of the bank, where possible.

The bank will integrate both ING Direct books, which are now known internally as Barclays Direct, into its existing retail banking business over the next 24 months.

A Barclays spokeswoman says: “We have now confirmed to these employees that their roles will be falling away as part of the long-term integration plans for the business. We are working closely with them all to provide extensive support, including redeployment opportunities wherever possible.”

ING, which has around 1.5 million customers in the UK, stopped taking new mortgage applications in the UK on 5 March.

Your Mortgage Decisions director Dominik Lipnicki says: “The banking sector is going through a massive change and roles will disappear.”

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