‘Barclays mulls 2,000 investment bank job cuts’

Pedestrians pass a Barclays bank branch in Chelmsford, UK. Barclays plans to cut as many as 2,000 jobs in its investment bank as part of a broad restructuring of the company, the Wall Street Journal reported, citing people familiar with the British bank’s plans. The paper said senior Barclays executives are planning to recommend that the bank cut between 1,000 and 2,000 jobs, likely to be concentrated in Asia and continental Europe. The job cuts are expected to be announced early next year, the paper said, adding that Barclays executives are aiming to protect the bank’s strong US and UK franchises. Goldman Sachs analysts have suggested that Barclays could cut 15% of investment bank staff, or 3,500 of its 23,300 employees, as part of a broader strategic review by chief executive Antony Jenkins, who took over in August.