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.