Barclays Plc, the U.K.’s second-largest bank by assets, is moving more employees to an office in Singapore’s central business district from the suburbs to cut costs, said people familiar with the matter.
Barclays will terminate its lease on about 15,500 square feet (1,440 square meters) of office space at a building in Tampines, an eastern suburb, and relocate the employees to Marina Bay Financial Centre by July, said one of the people, who asked not to be named because the information is private. About 300 people who work in back-office roles will be affected, the person said. Barclays declined to comment in an e-mailed response.
