Barclays – To cut 19,000 jobs over three years

As part of a new strategy, the investment part of the bank will lose about 7,000 jobs by the end of 2016. 

Barclays’ investment bank has been hit by a slowdown in the demand for government and company debt.

Barclays will also set up a “bad bank” which will eventually sell or run down £115bn of non-core operations.

These include £90bn of investment bank assets and all of its European retail banking operations, amounting to £16bn of assets.

Chosen excerpts by Job Market Monitor. Read the whole story at BBC News – Barclays to cut 19,000 jobs over three years.

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