HANOVER — According to documents filed with the state, a global financial institution with an office in Whippany is preparing to lay off dozens of employees in the coming months.
Barclays Service Corporation, a subsidiary of the international banking firm, Barclays, announced plans to eliminate 78 positions at its Whippany campus. The job cuts were disclosed in a recent filing with the New Jersey Department of Labor and Workforce Development.
According to the notice, the layoffs are scheduled between June 23 and July 7, as the company aims to “align staffing to current and expected business needs.”
Barclays’ Whippany campus, located at 400 Jefferson Park, opened in 2018 and serves as a hub for the Chief Operating Office and other functional teams supporting operations throughout the Americas. The firm acquired the 63-acre site in May 2017, transforming it into a high-tech workplace to encourage collaboration and innovation.
The workforce reduction falls under the federal Worker Adjustment and Retraining Notification (WARN) Act, which requires employers with 100 or more workers to provide advance notice when 50 or more employees are being laid off at a single location. The goal is to give affected employees, their families, and local communities time to prepare.
The WARN filing does not indicate what percentage of the workforce is impacted or whether similar layoffs are planned at other Barclays locations in New Jersey.
Barclays is among several large companies adjusting staffing levels as part of broader restructuring efforts in response to evolving market demands.
