Barclays Said to Start Cutting Jobs in Investment Banking
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Barclays Plc, the U.K.’s second-biggest lender by assets, will start cutting hundreds of jobs across its investment bank this week, according to people with knowledge of the matter.
About 100 jobs will go in Asia, and reductions will also be made at Barclays’s markets and investment-banking units in London and New York, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The cuts in Asia-Pacific amount to about 5 percent of the lender’s investment-bank in the region, one of the people said.