Posted 9/8/2023, 6:58:00 PM

Barclays Plans Hundreds of UK Job Cuts in Retail and Investment Banking Units

Barclays is drawing up plans to cut hundreds of jobs in its UK retail business and investment bank, according to sources. The cuts are part of annual performance assessments.
The British bank could cut up to 400 jobs in its domestic retail business. The numbers are not finalized.
Barclays CEO C.S. Venkatakrishnan is separately reviewing the bank's overall strategy amid concerns over underperformance.
Rivals like Morgan Stanley, Goldman Sachs and Citigroup have also cut thousands of jobs this year as investment banking revenues remain weak.
Barclays declined to comment specifically on potential job cuts, saying it regularly reviews operations to meet evolving client needs efficiently.

reuters.com

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9/8/2023

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