Barclays to cut 1,200 investment banking jobs


Barclays is to cut about 1,200 jobs, most of them in its investment banking business in Asia.

The bank plans to close investment banking operations in several Asia Pacific countries.

The changes are the first big move by Barclays’ new chief executive, James “Jes” Staley, to cut costs.

The move is part of Barclays’ strategy to focus more narrowly on geographical areas where it sees the most growth, in particular the US and the UK.

Read more on this in the source site, after the first four sentences. Click.. here.

Source Credits: BBC News Business

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