Barclays will cut 19,000 jobs across the business by the end of 2016 - 14,000 of which will be lost this year - as part of what chief executive Antony Jenkins said was a "bold simplification" of the bank's structure.
The bank revealed on Thursday it will cut 14,000 jobs this year, more than the 10,000 - 12,000 it had previously stated. By the end of 2016, some 7,000 roles will be lost from its investment banking division, which has been hit by the slowdown in demand for fixed income. The cuts will be part of the new strategy as the business is separated into a 'good' and 'bad' bank, in a move similar to that undertaken at rival Royal Bank of Scotland. The bank's share price has dropped over the last couple of days, down nearly 6% since last Friday at 242p, after its quarterly results on Tuesday...
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