Barclays to cut 3,700 jobs after 'reputational damage' | Bangkok Post: news

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Barclays to cut 3,700 jobs after 'reputational damage'

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Barclays will cut at least 3,700 jobs this year and slash costs, the scandal-hit bank announced on Tuesday as it also revealed that it had plunged into an annual net loss amid the Libor rate-rigging crisis. 

A Barclays bank branch covered in scaffolding is pictured in central London on February 11, 2013. Barclays will cut at least 3,700 jobs this year and slash costs, the scandal-hit bank announced on Tuesday as it also revealed that it had plunged into an annual net loss amid the Libor rate-rigging crisis.

The British bank said in a statement that it would "reduce headcount by at least 3,700 across the group, including 1,800 in the Corporate & Investment Bank and 1,900 in Europe Retail and Business Banking." Barclays employs 140,000 staff.

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