Barclays to cut costs by £2bn, raising fears of further job losses

Bank announces drop in profits to £6.6bn as it says it plans to return more to shareholders

Barclays is to cut £2bn in costs, raising fears of further job losses as the lender shrinks its investment bank in a corporate shake-up intended to increase shareholder payouts by £10bn within three years.

The bank said it did not have a “specific headcount target” for how many of its 94,800 global workforce would be cut, having already slashed 5,000 roles since October.

Continue reading…Bank announces drop in profits to £6.6bn as it says it plans to return more to shareholdersBusiness live – latest updatesBarclays is to cut £2bn in costs, raising fears of further job losses as the lender shrinks its investment bank in a corporate shake-up intended to increase shareholder payouts by £10bn within three years.The bank said it did not have a “specific headcount target” for how many of its 94,800 global workforce would be cut, having already slashed 5,000 roles since October. Continue reading…