Barclays axes around 5,000 jobs globally
11 months, 4 weeks ago

Barclays axes around 5,000 jobs globally

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Barclays has said it cut around 5,000 jobs globally during 2023 to “simplify and reshape the business”. Barclays said the majority of individuals impacted by the job losses worked in the bank’s support and UK chief operating officer functions as “management layers are reduced” and the group “improves its technology and automation capabilities”. A Barclays spokesperson said: “Barclays removed approximately 5,000 headcount globally through 2023 as part of its ongoing efficiency programme designed to simplify and reshape the business, improve service, and deliver higher returns. “We are supporting impacted colleagues with training, advice and outplacement services, depending on their location.” Barclays Execution Services division, known inside the bank as BX, was set up in 2017 to bring together support functions for the bank’s main two businesses – UK retail banking and international.

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History of this topic

Barclays lifts cap on bonuses for bankers in UK
4 months, 3 weeks ago

Barclays lifts cap on bonuses for bankers in UK

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The revised bonus cap will not alter the way …

Layoffs 2024: Barclays to cut hundreds of investment banking jobs. What we know so far? What will be the impact?
9 months, 2 weeks ago

Layoffs 2024: Barclays to cut hundreds of investment banking jobs. What we know so far? What will be the impact?

Hindustan Times  

Barclays Plc is set to cut several hundred jobs within its investment bank division it attempts to trim costs and boost profits within the unit, Bloomberg reported citing people in the know. This comes as Wall Street giants like Citigroup Inc. and JPMorgan Chase & Co. have turned to job cuts amid global slump in dealmaking and capital markets activity. …

Barclays announces fresh wave of branch closures with 22 more to shut - is YOUR local affected
10 months, 4 weeks ago

Barclays announces fresh wave of branch closures with 22 more to shut - is YOUR local affected

Daily Mail  

Barclays have announced they are to close another string of branches over the coming months in a fresh blow for high street shoppers. The popular high street bank - which boasts 48 million customers as of 2023 - is to start pulling the shutters down on 16 sites in England, two in Wales, one in Scotland and one in Ireland …

Barclays axing 900 staff in ‘disgraceful’ pre-Christmas move, says Unite
1 year, 1 month ago

Barclays axing 900 staff in ‘disgraceful’ pre-Christmas move, says Unite

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Banking giant Barclays is cutting …

Barclays plans 2,000 job cuts as part of $1.25 billion cost-cutting plan: Report
1 year, 1 month ago

Barclays plans 2,000 job cuts as part of $1.25 billion cost-cutting plan: Report

Live Mint  

Barclays is working on its cost-saving plans of 1 billion pounds which could also involve around 2,000 job cuts, mainly in the British bank's back office, according to a report published by the news agency Reuters. He said that the potential cuts would primarily be at Barclays Execution Services, known internally as ‘BX’, and would form part of an overall …

Barclays hires for top roles in India amid global job cuts
1 year, 3 months ago

Barclays hires for top roles in India amid global job cuts

Live Mint  

Barclays Plc is hiring dealmakers in India while its global business slashes 300 jobs across the corporate and investment banking roles, Bloomberg reported on October 6. Srikanth Chakka and Sameer Sood of Credit Suisse have been tapped for the MNC's advisory business in India by year-end, sources told Bloomberg. Sood who was with Credit Suisse since 2010 will join as …

Barclays bank to lay off over 450 employees in UK
1 year, 3 months ago

Barclays bank to lay off over 450 employees in UK

Live Mint  

In a bid to increase efficiency, Barclays Bank is planning to lay off over 450 employees working in its UK consumer facing unit, reported Bloomberg referring to trade union Unite. The recent job cut has come at a time when the company is also planning to cull about 5% of client-facing staff in the trading division as well some dealmakers …

Barclays announces plans to shut another 15 branches this year
1 year, 8 months ago

Barclays announces plans to shut another 15 branches this year

Daily Mail  

Barclays is closing another 15 branches this year in a fresh blow to customers who value face-to-face banking. It comes after two of the UK's other biggest high street banks, NatWest Group and Lloyds Banking Group, revealed plans last month to close more than 80 branches between them across the country. The latest series of closures, which will all take …

Barclays vows to stay in Canary Wharf amid another £1.6bn toxic loans hit
4 years, 5 months ago

Barclays vows to stay in Canary Wharf amid another £1.6bn toxic loans hit

The Telegraph  

The boss of Barclays sought to quash speculation he could axe its Canary Wharf headquarters, as rival HSBC warned that only a fifth of staff will return to its offices in September amid growing fears of an exodus from London. Bank of England Governor Andrew Bailey told Tory MPs earlier this month that he was shocked by how empty London …

HSBC revives plan for cutting 35,000 jobs
4 years, 6 months ago

HSBC revives plan for cutting 35,000 jobs

Live Mint  

London: HSBC is resuming a redundancy plan it put on ice after the coronavirus outbreak, and will cut around 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed. The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo, which was sent to HSBC's 235,000 staff …

Barclays is cutting about 100 jobs
4 years, 11 months ago

Barclays is cutting about 100 jobs

Live Mint  

Barclays Plc is embarking on a plan to cut about 100 senior jobs, mostly in trading roles across its corporate and investment bank, as the British lender seeks to rein in costs. Last year saw several European lenders reshape their securities units, eliminating thousands of roles amid increasing competition from U.S. peers and a lackluster home market. Jonathan Kitei, head …

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