'Barclays To Cut Hundreds Of Jobs Across Trading, Investment Bank; Lender Targets About 5% Of Client-Facing Jobs In Markets Unit; CEO Venkatakrishnan Vowed To Reduce Costs Amid Strategy Review' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Barclays Plc is planning to cut hundreds of jobs across its trading and investment bank divisions in an effort to reduce costs. The cuts will affect about 5% of client-facing staff in the trading division and some dealmakers globally. The firm is also preparing to restructure teams within its UK consumer-banking unit.
September 08, 2023 | 5:18 pm
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Barclays Plc's decision to cut jobs and restructure its UK consumer-banking unit could lead to short-term cost savings, potentially boosting the company's financial performance.
The job cuts and restructuring at Barclays Plc are aimed at reducing costs. This could lead to short-term cost savings, which could potentially improve the company's financial performance and positively impact its stock price.
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IMPORTANCE 75
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