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Posts tagged to job losses

Barclays to cut 19,000 jobs in major shakeup


Barclays has today announced that it is to cut 19,000 jobs by the end of 2016 as it plans a major operational shakeup. According to the announcement, almost half the job losses (around 7,000) will be in the UK, with Barclays investment arm most heavily affected as CEO Antony Jenkins comes under pressure to increase profits at the bank. Barclays also announced plans to set-up a so-called ‘bad bank’ to manage, and then either run down or sell off £115bn (approximately $179.7bn) of non-core operations. Unsurprisingly, this includes around £90bn… Read more