Barclays is moving hundreds of jobs out of the First State.
The British bank announced 500 of its 2,000 jobs in Delaware will leave for New Jersey this fall.
The company says the move is part of its efforts to create a series of “regional hubs.”
Barclays says employees not relocating with the jobs will be offered severance along with support including job search assistance, resume writing and interviewing skills.
Barclay’s U.S. consumer banking division makes its home on Wilmington’s Riverfront, and Barclays Cards and Payment CEO Barry Rodrigues says Wilmington will “continue to be the strategic headquarters for Barclays’ US consumer banking division.”
The jobs are headed to Barclays' new, state-of-the art campus in Whippany, New Jersey where 1,900 of its employees already work.
Delaware’s Congressional delegation, Congresswoman Lisa Blunt Rochester, and Sens. Tom Carper and Chris Coons, released a joint statement calling the job loss “deeply disappointing.”
“While it is encouraging to hear that the Barclays consumer banking division will remain on the Riverfront, our focus is on those impacted by this announcement. Our delegation is committed to working with Governor Carney to do all we can to assist these employees and to ensure that Delaware remains a great place to live and work for everyone,” said the statement.
Barclays is 9th largest credit card issuer in the country with 13 million customers, $26 billion in card loans and $15 billion in retail deposits.