Fortunereports that about 3,000 jobs will be cut from the newly formed BarcLehs by the end of the year. The bloodletting, which began Tuesday, is expected to come primarily from fixed income and trading operations. No word on severance, but it doesn't look good.
Remember when Bank of America said it was working on a little something called "Project New BAC," and it involved firing a whole bunch of employees? Barclays is apparently working on a coupla "projects" of its own.