Baclays cuts 400 jobs in corporate banking
London, January 31, 2014
Barclays is cutting 400 jobs from its corporate banking division, adding to the similar number of people axed by its investment bank this week as Chief Executive Antony Jenkins wields a cost-cutting knife.
The bank cut 3,700 jobs last year as part of a plan to cut annual costs by 1.7 billion pounds ($2.80 billion) and improve profitability, and more could come in other parts of the bank ahead of results on February 11 as the CEO searches for savings.
Barclays Corporate said on Thursday about 300 jobs would go in its back office and about 100 jobs would go as it combines its product and front office teams.-Reuters