Barclays to slash up to 12,000 jobs

Barclays (BCS) intends to axe 10,000-12,000 jobs this year, including 7,000 in the U.K.

CEO Antony Jenkins said the bank has notified around half of the affected workers in Britain.

The bank employed 139,600 staff at the end of last year.

Barclays announced the job cuts as it revealed in its FY report that its bonus pool rose 10% to £2.38B.

The firm said its 2013 earnings were hurt by legal costs and restructuring, including its withdrawal from some businesses.

Shares are -1.25% in London.

2013 results

From other sites
Comments (3)
  • tigermoq5
    , contributor
    Comments (36) | Send Message
    Pretax (substantial) loss + job cuts (about 8%= 10k to 12k workers) to make up for the F__kups = 10% additional bonuses to the F__kors = simply amazing!
    11 Feb 2014, 07:01 AM Reply Like
  • alxfoo
    , contributor
    Comments (19) | Send Message
    Amazing cut jobs yet increase bonus. Some poor fools job pay is sucked out to pay for higher up bonus when its easier to cut bonus and save jobs.
    11 Feb 2014, 08:47 AM Reply Like
  • AGK52
    , contributor
    Comments (4) | Send Message
    Actually it makes more sense for bankers to cut jobs and increase bonuses than reverse. Steal now when there is something left to steal so far, let others to clean the mess later. This is their way of doing business.
    14 Feb 2014, 03:36 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs