The Traderszone Network

Published in TZ Latest News 20 July, 2015 by The TZ Newswire Staff

Barclays has not set new target for job cuts: sources

The Times newspaper reported that the bank was planning to cut more than 30,000 of its staff within two years as it considers accelerating a cost-cutting program following the departure of Chief Executive Antony Jenkins. Jenkins said in May 2014 that the bank would cut 19,000 jobs over the next three years, 7,000 of which would be at Barclays’ investment bank. Since then, Barclays’ share price has continued to lag rivals and Jenkins was fired this month with the bank saying that new leadership was required to accelerate changes at the bank.