Barclays has launched a consultation with staff in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, the bank said on Tuesday.
Jenkins, who took over in August having previously run Barclays’ retail operations, is revamping the bank following the departure of Bob Diamond when the bank was fined for interest-rate rigging.
Media reports have said Barclays is expected to cut around 2,000 investment bank jobs as part of a restructuring to be unveiled on Feb. 12, when the bank publishes its 2012 results.
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Barclays (BARC.L) and Deutsche Bank (DBKGn.DE) will take a knife to bonuses for investment bankers in the coming weeks as they seek to tackle high costs, people familiar with the matter said. Britain’s Barclays is finalizing bonuses for last year and overall 2012 compensation for investment bankers will fall by between 10 percent and 20 … Continue reading »
Antony Jenkins, the bank’s new chief executive, announced in September that some parts of the bank would “shrink” as part of the overhaul, although he has ruled out a break-up of the scandal-hit lender. The job cuts could be announced early next year, the Wall Street Journal reported, and would represent around 10pc of Barclays’ … Continue reading »
Barclays could ax as many as 3,500 investment bank staff and cut its advisory or equities operations in Asia as part of a broader strategic review aimed at fixing the bank’s culture in the wake of the financial crisis. The future shape and size of the investment bank is seen as the most critical part … Continue reading »
Barclays Plc (BARC) is cutting just under 10 percent of staff in its equities division in Europe, Middle East and Africa as part of a plan to reduce costs amid a slump in trading volumes, said people with knowledge of the matter. The London-based bank… Barclays Said to Cut Europe Equity Jobs Amid Cost Cutting … Continue reading »
Barclays India will slash up to 600 positions by March next year as it cuts down on its lending activities, bank sources said. This, however will not translate into an equal number of job losses as some of them will get accommodated within the company, apart from natural attritions over a nine-month period when the … Continue reading »