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Barclays CEO Staley Said to Freeze Hiring 'for a Long Time'

  • Previous hiring freeze was in place until end of the year
  • Barclays said to have cut net total of 3,000 jobs since 2012
Barclays Plc Headquarters At Chief Executive Officer-Designate Jes Staley Meets Staff
Photographer: Simon Dawson/Bloomberg
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Barclays Plc’s Chief Executive Officer Jes Staley has extended a freeze on hiring new staff indefinitely as he deepens cost cuts to boost profitability at Britain’s second-largest lender, according to people with knowledge of the decision.

The CEO said he will keep the ban in place “for a long time” at a townhall meeting in London on Dec. 2, said the people, who asked not to be identified because the meeting was private. A previous freeze, implemented by Chairman John McFarlane in September, was due to be reviewed in January, said one of the people, who asked not to be identified because the move isn’t public. The current restrictions may be revisited in March.