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Barclays puts 686 ex-ING staff under threat

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  • 23/04/2013
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Barclays puts 686 ex-ING staff under threat
Barclays has entered the 686 ex-ING Direct staff into a formal consultation period ahead of the planned integration of the former lender.

Barclays purchased ING Direct UK’s £10.9bn deposit book and £5.3bn mortgage book earlier last year and stopped accepting new mortgage applications on March 5.

The 686 staff then transferred to Barclays but have since been placed into a 90-day consultation period as the lender looks to integrate ING into its existing structures.

The incorporation of ING into Barclays is set to take place over the next two years and could result in job losses for the former ING staff members, although Barclays will try and find new positions for those affected inside the organisation.

Dutch firm ING Direct launched into the UK market in May 2003, all of its 1.5m customers have transferred to Barclays since the acquisition was finalised last October.

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