Reuters: 500 jobs to go at Barclays Wealth - Spear's Magazine

Reuters: 500 jobs to go at Barclays Wealth

Britain’s Barclays Plc is cutting over 2,100 jobs across its investment banking and investment management (IBIM) units, or about 7 percent of their staff, a person familiar with the matter said on Tuesday.

Reuters

Britain’s Barclays Plc is cutting over 2,100 jobs across its investment banking and investment management (IBIM) units, or about 7 percent of their staff, a person familiar with the matter said on Tuesday.

Barclays confirmed it had started a consultation period with staff “to reduce headcount across some parts of IBIM to ensure that we are appropriately sized given the current market conditions.”

The source said investment bank Barclays Capital will lose about 1,300 jobs, or 6 percent of staff. About 500 jobs will go in Barclays Wealth and over 300 in Barclays Global Investors, he said.

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