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Barclays could slash up to 2,000 jobs

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Barclays could slash as many as 2,000 jobs from its investment banking arm as part of a broad restructuring of the company.

 

Antony Jenkins, the bank's new chief executive, announced in September that some parts of the bank would "shrink" as part of the overhaul, although he has ruled out a break-up of the scandal-hit lender. The job cuts could be announced early next year, the Wall Street Journal reported, and would represent around 10pc of Barclays' 23,000 full-time investment banking workforce. One source told the newspaper said that the cuts would focus on Asia and continental Europe, with Barclays executives aiming to protect the bank's US and UK franchises. Barclays declined to comment. The shake-up comes amid a year of scandal surrounding the bank that has claimed the scalp of chief executive Bob Diamond and chairman Marcus Agius.

 

More: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9741853/Barclays-could-slash-up-to-2000-jobs.html


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