Barclays Weighs Shrinking Global Office Space to Cut Costs
- Board reviewing if pandemic-era working practices will stick
- A final decision hasn’t been made but change may come in 2021
Barclays Plc head offices in Canary Wharf, London.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Barclays Plc is looking to reduce its real estate expenses in the U.K., U.S. and India as the shift to remote working adds fuel to its cost-cutting ambitions.
The bank could announce changes early next year although the board has not taken a final decision on the extent and timing of any measures, people with knowledge of the matter said. Further reducing branches in the U.K., which was already being examined before the pandemic, is one option under scrutiny, the people said, asking not to be named discussing private information.