Barclays Job Cuts

Barclays Job Cuts.

As part of its new reform, Barclays will cut around 19,000 jobs over the next 2 years. Half of the jobs affected are UK based.

These changes are all part of Barclays strategy to improve the banks performance. Barclays made a first quarter loss and angered some shareholders after it announced plans to give senior managers higher bonuses.

The investment arm of Barclays has seen a major slowdown recently and alongside government demand and debt, it was not good news.

The job cuts are part of multiple plans by Barclays to revitalise the bank, with a total of 14,000 job cuts being made this year.

Further plans will see a “bad bank” being set up and responsible for the sale or run down of £115bn worth of non-core operations.