Barclaycard is to close its site in Glasgow with the loss of around 350 jobs.

The company announced to staff on Thursday that Barclays Partner Finance service will relocate the jobs after a three-month consultation period.

It said the decision is part of the firm's ongoing programme of efficiency improvements to enable the business to re-invest for its customers.

The jobs will mainly be relocated to Cardiff, and some other sites in the UK. About 50 jobs will be lost overall.

Glasgow staff will be offered alternative employment at other sites and also assistance to find other posts, said the firm.

In a statement the company said: "Around 350 employees in Glasgow are impacted by the changes and they have been informed of the decision today.

"There will be a comprehensive package of support made available to them. This will include opportunities to transfer to other parts of the Barclays Group, including Barclays Wealth in Glasgow, and help to find jobs with local employers as well as individual advice and support.

The department, based at Academy Park in Gower Street, in the south side of the city, mainly deals with motor finance through various partners and is expected to be closed by the summer.

Clydesdale Financial Services Limited, trading as Barclays Partner Finance (BPF), is a subsidiary of Barclays Bank plc and is part of the Barclaycard business.

It provides point of sale finance through some 3,100 partners, ranging from household names to smaller organisations, across the UK and has more than ten million customers in the UK.

Neil Radley, managing director of International Consumer Lending at Barclaycard, said: “This has been a difficult decision to make and I understand how hard it is for our colleagues here in Glasgow.

" I’ve spoken to them today to explain our plans and to tell them about the comprehensive package of advice and support we’ll make available to each and every one of them.

“We’ve spent time consulting with our people as well as other interested parties here in Glasgow, and around the UK, before making our final decision.

"Barclaycard is constantly reviewing how we work and although this is tough, it will ultimately ensure that we can use resources more effectively and efficiently.”

Little consolation

Finance Secretary John Swinney said: "This is extremely disappointing news - particularly for Barclays Partner Finance staff and their families, who will be experiencing an understandably anxious time.

"While it may be of little consolation at the present moment, people can rest assured that we will do all we can to help them find alternative employment.

"My officials in Scottish Development International, Scottish Enterprise and Skills Development Scotland - who have been working tirelessly throughout the consultation period to safeguard the business operation in Glasgow - will continue to work with the company and Employee Consultation Forum (ECF) to help staff find alternative employment or training opportunities locally."

He added: "Officials are today on site doing all they can to assist at this difficult time. It is undoubtedly a period of change for financial services in Scotland, sparked by unprecedented global economic difficulties.

"But I want to be absolutely clear that the sector retains real strengths - as we've seen through new jobs being created at Tesco Bank and Esure, giving us cause for optimism."