Barclays Cuts 1,400 Jobs

Barclays announced that it will cut 1,400 jobs in the second half of this year. In the announcement, a spokesperson also said that the profit for the first six months 2011 went down by a third.

Barclays already cut 1,400 jobs in the first half of the year, reducing its employees from 147,500 to 146,100. “I would expect the trend in the first half to continue. I think it would be likely to increase somewhat,” CEO Bob Diamond said.

Pre-tax profits fell for Barclays Capital (investment banking arm) and its credit card arm likewise.

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By Student Express Posted in News

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