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 ...

Woman rushed to hospital after train and car collision
 
Hydro power switched on in the Iskut area
 
B.C. to announce Peace River dam decision
Riding the rails for the holidays
 
Houdini gives a hoot
 
Santa Rec Run raises big bucks
L.V. Rogers talent show blasts into school holidays
 
Local girls host charity bake sale
 
Champions of literacy

Community Events, December 2014

Add an Event


Read the latest eEdition

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

Dec 19 edition online now. Browse the archives.