Layoffs Watch ’13: Barclays

The Brits are said to have alerted some staff that their services are no longer required at the bank.

From the front lines:

“Big cuts at Barclays in New York yesterday, across the board, ranging from associate to director. Morale is not great. Cuts are expected to continue in the UK today.”

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46 Responses to “Layoffs Watch ’13: Barclays”

  1. Guy with A.D.D. says:


  2. I know very little says:

    i know equity derivatives and research got hit.

  3. guest says:

    sad trombones

  4. guest says:

    EM sales, too

  5. Chuck Roast says:

    Alright saget! Now who wants felafel?

  6. InfiniteGuest says:

    Shredding the legacy. On the bright side, when the bonus talks begin you'll know the cuts are over.

    • St. Copious says:

      these cuts are pre-bonus?? classy barclays. this must be part of jenkins' new focus on doing business the honorable way, all the time.*

      *starting tomorrow.

      • PermaGuestII says:

        Classy with a capital "K"

        Sounds as if they've decided to term everyone with more than 5 yrs seniority in favor of inexperienced kids they're hiring on the cheap. Consultant-driven management at its finest.

        Now watch them get whacked when the rates market moves against them and they don't have anyone on staff that's ever seen a Fed hike.

      • nachocheese says:

        do you mean "most right and honourable"?

  7. guest says:

    Getting fired 2 days before bonus numbers come out, priceless.

  8. PermaGuestII says:

    Fixed income sales & trading got decimated– Chicago office as well as NY.

  9. Hugh Jass says:

    Bess – you are losing your touch – we used to get this shit in real time. A day later makes this place the equivalent of Reuters. Come on damn it – we have needs….

  10. Oliverbradybunch says:

    How did electronic do?

  11. guest says:

    The cuts will continue until morale improves!

  12. Bobby says:

    How did international sales do in San Francisco and NYC?

  13. guest says:

    Sounds like Barclays couldn't even get this round of cuts right, according to Bloomberg today, they are going to cut another 275 from IB in May.

  14. Guest says:

    How did advisory do?

  15. Guesty says:

    And right after Phil's big weekend in Phoenix…

  16. John says:

    If the Bloomberg article is right (and I have no reason to believe it is not), then why would anyone good stay there? And if the markets improves, even the marginal people will leave. They will have to make some kind of announcement if the article is false (and again, I do not believe it is)