Barclays Capital to axe 600 positions
(13 January 2010 – UK) Press reports in the United Kingdom are claiming that Barclays Capital is set to axe a further 600 positions this week, following the over 400 cut backs late last year because of a general market slow down.
The affected positions are rumoured to include back office positions, with around 200 positions in the United Kingdom to be cut and the rest of the tightening to occur in the United States and Asia.
The losses amount to about 2.5 percent of Barclays Capital's workforce and are the result of a consultation period initiated in December.
Yesterday Bob Diamond, now Barclays CEO, told the press he was proud of the Barclays Capital, the unit he led until last year.
The controversial banker also claimed the time for 'remorse and apology' for his industry should now be over.
The losses amount to about 2.5 percent of Barclays Capital's workforce and are the result of a consultation period initiated in December.
Yesterday Bob Diamond, now Barclays CEO, told the press he was proud of the Barclays Capital, the unit he led until last year.
The controversial banker also claimed the time for 'remorse and apology' for his industry should now be over.
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