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More on Barclays (BCS) results and strategy review: Job cuts: 1,800 in Corporate &...

More on Barclays (BCS) results and strategy review: Job cuts: 1,800 in Corporate & Investment Bank and 1,900 in Europe Retail and Business Banking. To lower cost base to £16.8B by 2015 from £18.5B. Targets ROE of above cost of equity in 2015, which is forecast to stay at current 11.5% level. "One-time" costs of implementing strategic plan will be £2.7B by 2015. Targets common equity tier 1 ratio of above 10.5% by 2015. Aims for dividend ratio of over 30% over time. (PR)
Comments (1)
  • vtorch
    , contributor
    Comments (290) | Send Message
     
    There only so many jobs they can cut before it starts impacting growth and future profitability. CEOs are very short-sighted, and has used laying off employees as an excuse for the crappy performance they have produced. I'll never invest in such companies.
    12 Feb 2013, 04:55 AM Reply Like
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