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Layoffs Watch ’14: Barclays

If you’re a junior mistmaker at the bank, consider passing it on to your MD that he/she might want to gird his/her loins.

Barclays and Lloyds Banking Group are planning job cuts, the latest drive by British banks to slash costs amid stagnating revenues. Lloyds said Tuesday it would cut around 1,000 jobs as the part state-owned bank pushes on with a three-year cost-cutting plan. Meanwhile, Barclays is set to cut several hundred investment banking jobs, according to a person familiar with the matter. Most of the cuts are expected to be at managing director level, the person said…For Barclays, the cuts are the latest effort by Chief Executive Antony Jenkins to boost margins at the lender’s investment bank. Last year Barclays said it would cut 1,800 investment banking jobs. It is unclear in which countries the new cuts will fall.

[WSJ]

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12 Responses to “Layoffs Watch ’14: Barclays”

  1. guest says:

    I'm going to slip my MD a note about this during homeroom tomorrow.

  2. BCS HR says:

    Severance includes 4 guaranteed "Safe Weekends" per month.

  3. Barker says:

    thought I saw some HR pigeons working late (4:45 pm ) to get this done

  4. Pyrrhic Victory says:

    Level 2 CFA, here I come! That's what I was saying at 9:20 this morning….then I got called up to the HR conference room where I was told that perhaps I should have been at the office more these last four months instead of burying my head in a bunch of books on financial theory. Oh well, with pink slip in hand, I say once again, Level 2 CFA here I come!

  5. KingCo says:

    The news flash here is that Barclays still has "several hundred" MDs to sack.

    I assume they're counting the balloon pilot?

  6. min wage analyst says:

    Whatever, Obama gonna raise my comp

  7. Blythe Jr. III says:

    Plenty of fat there.

    -RBS Chief of Efficiency and Synergy

  8. nymo says:

    Demand Media and Cisneros Interactive Announce Advertising Partnership great news for company $$

  9. guest says:

    GTFO.

  10. guest says:

    go hawk your site elsewhere.

  11. JDa says:

    1990s called, they want their site design back