Barclays

All gone down

No assessments. Many projects including regulatory. Productivity & morale is zero. A few leaving, some let go. Take it or leave it deal with 25/30% cut to cover all client/agent/peo costs (e.g. fake holidays & restrictive pension payments).

It is all over, selling my house, gonna pick a little perm role. My earning will be lot less but so will my tax. I paid £78000 in corporation, dividend and vat tax last year, next year as a perm I will pay £33000 based on a similar role. Good luck everyone

Blanket ban on PSC. No assessment undertaken, so no ability to query / object. PAYE only, on reduced rates to cover all employer costs (and margin) - c50% cut in effective income No negotiation on rates Forced through one umbrella - Giant Take 50% reduction in rate or leave is the option. Seem to think that any impact on projects can be blamed on external factors and that no-one will realise this is just a cost cutting exercise conveniently timed to align to change in rules. After months of questions, no nearer to understanding any of the processes behind the changes. Barclays/Giant pass questions back and forth each blaming the other. Refusal to share breakdown of conversion rate. Refusal to allow any gap between contracts. Threat of list of available people waiting in the wings to take on roles should anyone not be tempted by the massive pay cut on offer. Awful communication, not in line with Barclays supposed ethos. Two tier PAYE system. People already PAYE had all their employment costs covered by Barclays and were able to invoice huge overtime, new PAYE must pay all costs from their day rate (and no overtime). Morale rock bottom. Productivity zero. High likelihood that whole teams will walk as a result. Barclays apparently happy to pay more to go out to the market and start from scratch rather than treat people who have been running their projects properly.

A fiasco. Take it or leave . Blanket approach. There was a conversion rate with all taxes employers, employees and even agency fees are now paid by the new PAYE worker without any single benefit of a normal employee. Kind of third class citizen. Under new contracts, the loss of net income is more than 50%. No negotiation possible. Unfortunately many of us have schools, mortgages and bills to pay and have no choice. We have to take it until we can find a better offer. All projects to be impacted. PAYE workers to leave gradually until a new offer is secured. The atmosphere is bad.

I took the role as I was told it would be for 6-9 months but shortly after starting at the end of last year found out by my own searching that PSCs are banned and had this confirmed by my recruitment firm early this year. The project I am working on will be severely impacted as a fair few contractors were working on it and now have to leave

Absolutely appaling communication, lack of any support from the management. Basically given an ultimatum - really disappointing treatment after many years of service... morale complete destroyed.

No notice was given. Blanket dismissal of all contractors applied and the company used the IR35 as an excuse to reduce costs and remove experienced contractors favouring junior staff instead. They massively practise 'constructive dismissal' before by giving contractors very boring and menial work.

I always enjoyed my time at Barclays but the communication regarding the PSC ban was terrible - I found out by a friend at HSBC.

If only Barclays acted in private as they do in public. Its embarrassing when not one word of your own purpose and values are adhered to. From the comments below, it seems another one to avoid at all costs. Respect - we respect and value those we work with and the contribution they make Integrity - We act fairly, ethically and openly in all we do Service - We put our clients and customers at the centre of what we Excellence - We use our energy, skills and resources to deliver the best, sustainable results Stewardship - We are passionate about leaving things better than we found them

Flat out blanket determinations for everyone, paye/umbrella only and no LTD Co at all going forward. NO individual determinations on a per-role basis.

Not handled the comms well.

No guidance, no comms and a recipe for contractors going elsewhere or perm.

Most contractors managed out due to cost reduction and uncertainty. Barclays using opportunity to reduce costs. Those retained offered PAYE with effective rate cut,

Terrible communication. Only being told that new contracts will start 1st March but no details.

No IR35 assessments being made. Shambolic attempt at implementing changes to PAYE only. Very poor communications and limited ability to answer queries. Contracts seen to date contain unlawful clauses, not to mention a cut in rates to make this cost neutral for Barclays.

Due to the non-solicitation clause which all contractors have if coming through an agency, ALL contractors have to leave in Mid-Feb. That is approx around 2,000 staff. I know of cases where most or all of the team is leaving, projects getting scrapped or delayed considerably, and due to the paltry salary rates they're offering, most contractors who qualify to take on a PAYE contract (ie they came direct and not through an agency) are rejecting them. Barclays have always had a reputation of not treating contractors well, but this is a true "cheers, now f***off approach.

Offering conversion to PAYE, but at an hourly rate fixed at 35 hours per week (includes paid hols) On those hours, rate isn’t nearly equiv to outside IR35 day rate even including hols. Effectively c27% pay cut.

I understand Barclays are finding it difficult to retain or attract contingent workers.

Contractors leaving

No PSCs