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Barclays to cut 2,000 jobs in restructure

by Daniel Grote on Dec 14, 2012 at 08:41

Barclays to cut 2,000 jobs in restructure

Barclays is to cut up to 2,000 jobs in its investment arm as part of a restructure of the bank, according to the Wall Street Journal.

It said the cuts were likely to fall within the bank’s Asia and continental Europe divisions, as the bank looks to protect its US and UK wings.

Chief executive Antony Jenkins has been working on an overhaul of the business, which results set to be unveiled in February. Rich Ricci, who leads the bank’s investment arm, is leading the review of that division.

According to the paper, the recommended job cuts haven’t been endorsed by Jenkins or the Barclays board, and the final number could be affected by Jenkins’ review. It added that some senior executives were pushing for larger cuts.

3 comments so far. Why not have your say?

John Smyth 3

Dec 14, 2012 at 10:14

They have nothing to worry about now they have their placeman Hector Sants onboard. He will be able to do the work of the 2000.

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Man of Kent

Dec 14, 2012 at 11:34

Salaries saved should pay the LIBOR-rigging fine.

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James Clancy

Dec 14, 2012 at 12:05

@ John Smyth 3

No John the 2000 cut in Barclays employees was pay for Hector Sants

Salary,

His office and Staff

Artwork for his office.

Chauffeur driven Car

Pension,PMI Death Benfits

Christmas Party and leaving do's for staff

Plus any additional benefits he received the FSA.

Plus of course the corporate the Barclaycard thoroughly entertaining of Government Minsters and officals ,Regulators throughout the world.

I wonder if he will be at Davos That will cut his cost down.

We have one consolation instead of was paying for it it will now be Barclays shareholders.

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