Barclays Bashed

Jobs to go at Barclays in ‘Bold Simplification’ move.

The investment bank side of the business is to be overhauled resulting in 19k jobs being lost by 2016.

CEO Anthony Jenkins says these cuts will help focus the international bank “operating only in areas where we have capability, scale and competitive advantage”.

These cuts follow a £1.7bn fall in profits driven by a lack of performance from its investment banking division.