Barclays in Cardigan is one of 11 branches the high street bank will be closing in Wales this year.

The major high street bank revealed on Tuesday (February 20) plans to cut back on £2 billion in costs by 2026.

This comes off the back of the bank already spending around £1 billion in 2023 on restructuring costs, which involved its offices and branches, infrastructure, and staff.

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About £300 million of that was spent on “rightsizing” its headcount, Barclays said. 

Barclays previously revealed it cut about 5,000 full-time jobs across the global business over 2023, largely affecting back office and support roles.

It did not specify how many jobs were expected to be affected as part of the new £2bn cost-cutting drive over the coming years.

Tivyside Advertiser: Barclays previously revealed it had cut around 5000 jobs across the global business in 2023.Barclays previously revealed it had cut around 5000 jobs across the global business in 2023. (Image: John Stillwell/PA)

Barclays will be closing more than 80 stores across the United Kingdom this year, with 11 of them in Wales, including in Haverfordwest, Aberystwyth, Llanelli and Bridgend. The Cardigan branch is set to close on Friday, April 26.

A further two Welsh branches - in Ystrad Mynach and Tredegar - have been scheduled to close in 2025, according to consumer watchdog Which?.

Barclays branches closing in Wales in 2024

The Barclays bank branches set to close in Wales in 2024 (revealed so far), according to Which?, are:

  • 6 Vaughan Street, Llanelli - February 22
  • 2 Market Place, Cannock - February 22
  • ​57 Frogmore Street, Abergavenny - March 1
  • Crown Buildings, 11 Broad Street, Builth Wells - March 6
  • 36 Dunraven Place, Bridgend - April 12
  • 9 The Parade, Neath - April 19
  • 32 High Street, Cardigan - April 26
  • 26 Terrace Road, Aberystwyth - May 3
  • 32 High Street, Haverfordwest - May 10
  • 273 High Street, Bangor (Wales) - May 10
  • 68/70 High Street, Rhyl - August 9

 

There are also seven Barclays branches earmarked to close in 2024 that do not yet have a closing date, Which? added.

Barclays branches closing in 2025

There are also six Barclays closures, according to Which?, already confirmed for 2025: 

  • 27 Bedwlwyn Road, Ystrad Mynach - January 17
  • 21-22 Castle Street, Tredegar - January 17

There have already been a several Barclays branches close for good in 2024.

The major high-street bank said the decision to close these sites was due to the numbers visiting branches falling and the need to "adapt to provide the best support for customers". 

A Barclays spokesman, speaking to Which?, said: "Where there is no longer enough demand to support a branch, we maintain an in-person presence through our Barclays Local network, live in over 300 locations, based in libraries, town halls, mobile vans and our banking pods. 

"We also support access to cash with our cashback without purchase service, 24-hour deposit-taking ATMs and by working alongside the Post Office and Cash Access UK."

The latest closures come after Barclays shut 157 branches in 2023.