Barclays to Fire 275 Investment-Banking Workers in New York
Barclays Plc’s investment-banking business plans to eliminate 275 jobs at three New York City locations in May, according to a filing with state regulators.
Reductions will occur May 15 and in the two weeks thereafter, the London-based firm said today in a filing with New York’s Department of Labor. Kerrie Cohen, a spokeswoman for Barclays, didn’t immediately respond to an e-mail seeking comment on the filing.
Antony Jenkins, 51, who took over as chief executive officer last year after the bank agreed to pay a then-record fine for attempting to manipulate the London interbank offered rate and other benchmark interest rates, will update investors next week on the bank’s review of its strategy. The firm said this week it will cut its bonus pool as it sets aside an additional 1 billion pounds ($1.6 billion) to cover mis-selling of payment-protection insurance and other products.
Job cuts disclosed in today’s filing affect Barclays offices at 200 Park Ave., 745 Seventh Ave. and 1301 Avenue of the Americas, the document shows.
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