Barclays Job Cuts

Barclays Job Cut.

Plans are being made by Barclays to cut 7,000 UK jobs. This is part of a new plan to cut between 10,000 to 12,000 jobs.

Currently the bank has 14,000 staff and those affected by the cut have reportedly been told. These cuts come at a time when not long ago it was reported that the bank increased the amount it paid on bonuses.

The total of bonuses rose by 10% in 2013 to £2.38bn.

The bank is hoping that most of the job cuts will be made voluntarily, which includes a cut of 820 senior manager roles. It was only last year when the bank cut 7,650 jobs.

Yesterday the bank released its full year profits. Barclay’s statutory pre-tax profits for 2013 rose £2.9bn. However adjusted pre-tax profits fell to £5.2bn.