- Barclays may cut around 2,000 jobs as part of a £1 billion cost-cutting plan.
- Bank managers seek to increase profitability by reviewing proposals, including potential job cuts in back-office departments like legal and HR.
- Impacted roles likely to be in Barclays Execution Services (BX), a group providing technology, operations, and functional services.
- BX currently employs over a quarter of Barclays’ total staff, around 22,300 people as of 2022.
- Discussions ongoing, with a possibility of prioritizing layoffs in other areas based on ongoing evaluations.
- Barclays aims for efficiencies after reporting a 16% drop in Q3 profits, with more details expected at an investor presentation in February.
Barclays could reportedly cut around 2,000 jobs in push to reduce costs by £1bn
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