Barclays gives 4 weeks notice!

[Bumfluff]

Morgan Stanley got red of alot of permies and contractors today as well, I know of about 8 people who went 4 permy, 4 contract.

RBS start laying off contractors on Tuesday.

Barclays, Barcap and Barclays Global have got a freeze on both permy and contract and are going to do more redundencies over tomorrow and next week.

I was confident I wouldnt be going but I think I will be this time or at least before end of year, my contract was due to run to April 09.

[Liability]

Nearly all IT/finance contractors at Barclays are having their contracts terminated, with a few being put through a dispensation request system via the exec, for the most critical projects. Biggest contractor cull to date apparantly, so no doubt they will all be back in place in a couple of months...!

It will all come back - as a Bank that hasnt taken the handout they are just playing the numbers game - IF they report Profits up over the next quarter and thereafter itll will get them kudos and hold them well - knowing a fair bit about there environments[all the CIPE and GIPE etc] they have a heck of alot of work that needs to be done and I am sure they will get people back next year.

[BlasterBates]

Nearly all IT/finance contractors at Barclays are having their contracts terminated, with a few being put through a dispensation request system via the exec, for the most critical projects. Biggest contractor cull to date apparantly, so no doubt they will all be back in place in a couple of months...!

interesting...tough market, about half the role descriptions I've been getting from agents were at BarCap, so that is real blow.

[MaryPoppins]

Not very nice really is it, no.

[stillooking]

barclays @ radbroke are total time wasters and seem to relish wasting contractors time (in my experience), hope all the permie's get laid off. that not nice but there we go.

[MaryPoppins]

Nearly all IT/finance contractors at Barclays are having their contracts terminated, with a few being put through a dispensation request system via the exec, for the most critical projects. Biggest contractor cull to date apparantly, so no doubt they will all be back in place in a couple of months...!

[kula]

They are really tightening their belt, unauthorised travel has been cancelled, training has been halted etc. I also understand they are or have dropped contractor rates by 10% too.

They could actually shed a lot more, 250 is really not at all significant given some of their major infrastructure projects.

(I was a permie there recently).

[TykeMerc]

good old Radbroke Hall - spent a good period though - full of tulipe I tell ya! The perm their are shocking! Never have I seen such an inept bunch of Techies!

There or they're? Please translate into English.

[Liability]

Had a call from a former colleague who'd left the place were I work middle of Sept to take a role at Barclays in Cheshire.

Said he was told at lunchtime, 4 weeks notice and upto 250 contractors to go.

Bad news.

good old Radbroke Hall - spent a good period though - full of tulipe I tell ya! The perm their are shocking! Never have I seen such an inept bunch of Techies!

[TykeMerc]

Cancel some projects and stick with legacy systems, infrastructure and processes and cancel some upgrades and you rapidly hit 250 contractors no longer required.
So long as critical projects are done to maintain compliance in a shrinking or static market businesses like Barclays can soldier on and cut budgets.

[BolshieBastard]

AFAIA they are test managers, analysts etc.

[d000hg]

If those people were doing valuable work, worth maybe £100k/day, how can they just drop it?

[BolshieBastard]

Had a call from a former colleague who'd left the place were I work middle of Sept to take a role at Barclays in Cheshire.

Said he was told at lunchtime, 4 weeks notice and upto 250 contractors to go.

Bad news.