OVER 100 jobs are at risk at one of Poole’s biggest employers after it revealed that it was outsourcing one of its departments.

Barclays said last night that it had reviewed its “pensions administration function” and had taken the decision to contract it out to a third party, Towers Watson, from October 1 this year.

In total, 126 employees could lose their jobs. Workers leaving the iconic Barclays House yesterday were staying tight-lipped about what was happening.

One employee, who said she had not heard the news, added she was “not surprised” by the announcement.

The banking giant said it had been keeping affected employees and trade unions informed and they were told yesterday.

Michael Aldred, global compensation and benefits director at Barclays, said: “The objective of the review was to ensure we have in place a high-quality pensions administration solution.

“The solution we have chosen provides Barclays with a sustainable pensions administration business model and delivers a leading-edge technology platform.

“The decision is no reflection on the quality of work undertaken by our pensions administration team, but we believe the move will result in a better service for our pension scheme.”

The bank said it would do “everything possible to assist the 126 employees put at risk of redundancy”, including training, career transition support, potential redeployment and a “comprehensive package” for anyone made redundant.

Cllr Mark Howell, Poole People councillor for Poole Town, said: “This is clearly bad news for the town, but I hope that the borough can work with Barclays and help them restructure to keep a strong presence in Poole.”

There are around 1,150 staff based at Barclays House, covering a number of functions.

Barclays said yesterday’s announcement only affected the pensions admin department.

Hundreds of jobs have been lost at Barclays in Poole since it announced in 2007 that it would be outsourcing various roles.

Despite that, it has also recruited staff since that announcement.