Barclays Said to Consider Cutting Quarter of Jobs in Cost Push
Job Cuts Part of Major Reforms at Barclays
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Barclays Plc is considering deeper job cuts that could see its workforce shrink by about a quarter over the coming years, said a person with knowledge of the matter.
The bank, which employed about 132,000 people at the end of December, is reducing staff numbers under a cost-cutting program announced by former Chief Executive Officer Antony Jenkins. Those efforts, if extended, could eventually leave it with fewer than 100,000 employees, the person said. There’s currently no formal plan in place, the person said, asking not to be identified because talks are private.