Barclays Headcount Fell by 5,000 Last Year in Cost-Cutting Push
A Barclays bank branch in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Barclays Plc said its global headcount dropped by about 6% over 2023, the most visible sign yet of the bank’s cost-cutting push.
The lender said in an emailed statement that it had “removed approximately 5,000 headcount globally through 2023 as part of its ongoing efficiency program.” The majority of those affected are within the group’s support functions, reflecting the removal of management layers and improved technology and automation capabilities, according to the statement.