In June 2019, Barclays, the United Kingdom-based bank, announced that it is relocating around 500 financial services jobs from Wilmington, Delaware to a new, state-of-the-art, corporate campus in Whippany, New Jersey. The transition will begin fall 2019 and is targeted to complete by year-end.
Barclays is exploring ways to enable its operations and technology teams to work more efficiently. To do so, it needs to focus on developing larger-scale regional hubs to house operations and technology together.
Wilmington employees who'll move to Whippany will be joining about 1,900 employees who currently work in New Jersey. Relocation assistance is being offered for those who'll move to Whippany. For those who won’t, Barclays will give severance pay and job search assistance.
Barclays said that Wilmington will continue to be the strategic headquarters for its United States consumer banking division. It will also continue to invest in Wilmington headquarters and Whippany campus to support its consumer business. The company renewed its commitment to support the community as well. It will still partner with non-profit organizations for its charitable efforts to make a positive impact on Delaware and New Jersey communities.
The Delaware community will feel the impact of the job loss, and Governor John Carney described this as disappointing. Though Delaware's government officials are grateful that Barclays consumer banking division will stay on Wilmington's Riverfront, they're still disappointed that a large number of employees will be affected by the relocation.
The officials are committed to working with Governor Carney to help employees and guarantee that the community continues to be a great place to work and live. The delegates sympathize with the families affected by the announcement and are confident that the community will join forces to support each other.
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