Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a652917
Barclays eyes 2,000 job cuts in investment arm overhaul
by Daniel Grote on Jan 23, 2013 at 07:35
Barclays is to cut up to 2,000 jobs from its investment arm as part of an overhaul of the business led by chief executive Antony Jenkins, according to reports.
The bank yesterday started a consultation process over the cuts, telling 10,000 London-based staff their jobs were at risk. It is set to inform staff in Europe, Asia and the US about further redundancies in the coming weeks, people close to the situation told the Financial Times.
Jenkins has been scrutinising the performance of the bank's divisions since his appointment as chief executive, and will unveil Barclays' new strategy alongside its annual results next month.
The FT also reported that UBS, which is cutting 10,000 jobs worldwide, is consulting on 100 job cuts in its UK investment banking arm.
News sponsored by:
Citywire 10k run: the 28 teams & 173 runners set to do battle
We reveal the teams and runners who have committed to take part in our annual fundraiser at Regent's Park later this month.
Today's top headlines
More about this:
Look up the shares
More from us
- Barclays fails to pay out over Aviva fund sales
- Barclays Wealth chief quits amid allegations division is ‘out of control’
- Sants defends decision to join Barclays
- Sants to spearhead Barclays pay crackdown
- Sants scoops £3m pay deal at Barclays
What others are saying
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.