Thousands brace for cuts at Barclays

Barclays’ investment bank is preparing for sweeping changes that could mean thousands of job cuts, reports FT.com.

Read: Europe’s bankers skirt bonus rules

“The shake-up comes amid growing investor disquiet about the bank’s decision to increase bonus payments by 10 per cent to a total of £2.4bn last year in spite of a one-third fall in its pre-tax profits. Shareholders are also unhappy about rising costs and falling profits at the investment bank,” says the report.

Read more here.

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