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Tuesday, February 12, 2013

Barclays to axe 3,700 jobs in strategic overhaul

Barclays to axe 3,700 jobs in strategic overhaul

Feb 12, 2013 , 07:38 AM , from yahoo
barclays to axe 3,700 jobs in strategic overhaul
LONDON (Reuters) - Barclays is to axe at least 3,700 jobs and prune its investment bank under a restructuring plan launched by its new chief executive on Tuesday which seeks to cut 1.7 billion pounds ($2.7 billion) in annual costs and improve standards. Antony Jenkins said the job cuts will include 1,800 in corporate and investment banking and 1,900 in its European retail and business banking. He plans to focus investment in Britain, the United States and Africa, and cut back its presence across Europe and Asia. ...




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