Investment bank considers job cuts
(12 August 2010 − Global) Barclays is reportedly considering cutting 400 jobs globally from the bank’s investment banking arm, a source has said.
A spokesperson for the investment bank confirmed this week that Barclays Capital had begun a review that ‘would result in some job losses’.
However, Barclays Capital will continue to hire selectively across parts of the business that are still growing, the spokesperson added.
The news of potential job losses came only days after Barclays announced an increase in first-half profits by nearly a third as a result of a drop in bad debts.
Barclays Capital also reported healthy figures for the six months to June, however trading revenues suffered a blow dropping 15 percent in the second quarter.
However, Barclays Capital will continue to hire selectively across parts of the business that are still growing, the spokesperson added.
The news of potential job losses came only days after Barclays announced an increase in first-half profits by nearly a third as a result of a drop in bad debts.
Barclays Capital also reported healthy figures for the six months to June, however trading revenues suffered a blow dropping 15 percent in the second quarter.
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