Barclays – To cut more than 30,000 jobs. Yes or no ?

Barclays Plc plans to cut more than 30,000 jobs within two years after firing Chief Executive Antony Jenkins this month, The Times reported on Sunday.

This redundancy program, which could reduce the bank’s global workforce below 100,000 by 2017 end, is considered as the only way to address the bank’s chronic underperformance and double its share price, the newspaper said, citing senior sources. (thetim.es/1CKc13g)

These job cuts are likely to affect staff at middle and back office operations, where largest savings are achieved, the Times said.

via Barclays plans to cut more than 30,000 jobs – The Times | Reuters.

Barclays has not set new target for job cuts – sources | Reuters

Barclays has set no new targets to cut jobs beyond the 19,000 redundancies which it announced in May last year, sources familiar with the matter said on Monday, playing down a report of further reductions.

The Times newspaper reported that the bank was planning to cut more than 30,000 of its staff within two years as it considers accelerating a cost-cutting programme following the departure of Chief Executive Antony Jenkins.

The Times reported that further job cuts may reduce Barclay’s global workforce to below 100,000 by the end of 2017 and is considered the only way to address the bank’s underperformance and hit a target to double its share price.

Jenkins said in May 2014 that the bank would cut 19,000 jobs over the next three years, 7,000 of which would be at Barclays’ investment bank.

via Barclays has not set new target for job cuts – sources | Reuters.