LONDON: Barclays is axing at least 3,700 jobs and pruning its investment bank as its new boss put his stamp on the troubled British bank by aiming to cut £1.7bil in annual costs and raise standards after a series of scandals.
The plans form part of an overhaul which chief executive Antony Jenkins hopes will convince a sceptical public that he can change a bank which has been dogged by controversy, including a US$450mil fine for rigging Libor interbank lending rates.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
