National News

Barclays to get rid of 14,000 jobs this year

By The Associated Press

LONDON - British bank Barclays says it will cut around 14,000 jobs this year as it looks to streamline its operations and reduce the size of its investment banking arm.

The figure was higher than anticipated — previously the bank had indicated that it was looking to get rid of between 10,000 and 12,000 people.

As part of its job reduction program, Barclays said it will cut a total of 7,000 positions in investment banking by the end of 2016. As a result, a total of 19,000 jobs will be cut through 2016.

Group Chief Executive Antony Jenkins called the move a "bold simplification" for Barclays, which will also close its customer branches in Portugal, Spain, Italy and France.

Barclays has come under pressure over the past year or two to reduce the investment banking division following a run of scandals.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Convicted Florida felon kills his 6 grandchildren
 
Diverse group of panelists discuss potential pros and cons of LNG in Prince Rupert
 
High demand for Oliver jail-jobs seminars
Suspicious briefcase found outside Grand Forks Credit Union
 
NDP vote for new federal candidate in SOWK: Dick Cannings to run in the 2015 federal election
 
Crowd backs sale of Blueberry Creek Community School
Partnerships key to LNG boom, says LNG Buy-BC advocate
 
UPDATED: Simushir arrives at Prince Rupert container port
 
100 campaign signs stolen

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 23 edition online now. Browse the archives.