Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Barclays to cut 7,000 UK jobs in 2014

Barclays to cut 7,000 UK jobs in 2014

Barclays has announced plans to cut 7,000 UK jobs this year.

The bank said it planned to cut between 10,000 and 12,000 jobs in 2014, including 7,000 in the UK.

Barclays said the job cuts would hit 820 senior manager roles, of which 220 were managing directors and 600 directors. About 400 of those senior job cuts are from the investment bank.

Barclays said it was hopeful it could achieve the majority of the cuts voluntarily.

In January, Barclays denied reports that it planned to shut 400 UK branches but said it would close branches ‘over time’ due to changes in technology and customer behaviour.

The fresh job cuts come after the bank cut 7,650 roles last year.

The bank's total bonus pool for 2013 rose by 10% to £2.38 billion, from £2.17 billion in 2012, with the investment bank's bonus pool increasing by 13%.

According to the BBC, chief executive Antony Jenkins (pictured) said: ‘At Barclays, we believe in paying for performance and paying competitively.’

Jenkins has waived his own annual bonus.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter