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Barclays may cut up to 2,000 jobs

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Barclays could cut up to 2,000 jobs from its investment banking arm as part of a broad restructuring of the company.

According to The Wall Street Journal, the job cuts could be announced early next year and would represent 10 per cent of Barclays’ 23,000 full-time investment banking workforce.

A source has told the paper that Barclays is looking to protect its UK and US workforce with the cuts expected in Europe and Asia.

Chief executive Antony Jenkins has been working on a corporate overhaul of Barclays which he is set to unveil in mid-February.

Jenkins was named chief executive in August after the departure of Bob Diamond amid the Libor interest-rate-rigging scandal which saw Barclays fined £290m by UK and US regulators.

Barclays declined to comment.

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Comments

There are 7 comments at the moment, we would love to hear your opinion too.

  1. I guess these job cuts are to fund Hector Sants salary.

  2. I’m still dumbfounded about the blatant dishonesty concerning Sants appointment. Lets form an asscociation between the organisation that permitted another organanisation to operate so fraudulently several times over long periods of time.

    What a dishonest and thoroughly corrupt industry Financial Services and Banking is.

  3. Afraid, very afraid 14th December 2012 at 10:51 am

    I would guess its just to cover his expenses

  4. Roman Duzinkewycz 14th December 2012 at 11:21 am

    I have an answer – just don’t employ Sants.

  5. well they have Hectors Pants to pay for now, he’s not going to be cheep cheep!

  6. I think the only way we will be able to get a good regulator and a fair one is to stop this bed hopping from taking place. Why are so few out there, other than us that is, interested in persuing this? if this practice continues, it is just a matter of time before PRA and FCA will have to be replaced by yet another regulator and to what expense!

  7. It is all down to nepotism
    They were all probably rodgering each other at some public school
    Now that Hector has rodgered the IFA community he has rejoined his long lost friends

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