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 ...

In Theatres: Jake Gyllenhaal in Nightcrawler; Maps to the Stars; Before I Go to Sleep (VIDEO)
 
Kelowna artist Carrie Harper initiates international effort
 
Davis: Actor Peter Berg adds to impressive resumé as a director
Rotary connector trail extension enhances Rails to Trails project
 
The Eclectic Show to take place on Oct. 20
 
White Spider entertains in Prince Rupert
Brian Rosen recalls good times had on The Royal stage
 
For love of powder
 
The Funk Hunters set to play Nelson

Community Events, October 2014

Add an Event

Read the latest eEdition

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

Oct 31 edition online now. Browse the archives.