Barclays Said to Cut Europe Equity Jobs Amid Cost Cutting
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Barclays Plc is cutting just under 10 percent of staff in its equities division in Europe, Middle East and Africa as part of a plan to reduce costs amid a slump in trading volumes, said people with knowledge of the matter.
The London-based bank started about two weeks ago to inform staff at the unit, which employs more than 500, that jobs will be cut, and the first departures began this week, according to two people familiar with the situation who asked not to be identified because the matter is private.