Author Topic: More 'good' jobs facing the axe  (Read 886 times)

Offline Ellipses

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More 'good' jobs facing the axe
« on: July 20, 2015, 04:56:53 AM »
Just announced today that Barclays is reportedly planning to axe more than a further 30,000 jobs as it speeds up a cost-cutting strategy after firing chief executive Antony Jenkins.

A radical redundancy programme could see the bank's global workforce fall from 132,000 to below 100,000 by the end of 2017, according to The Times.

The lender will face pressure to clarify its plans when it unveils half-year financial results next week.

Barclays declined to comment on the newspaper report

The bank is already undergoing a major cost-cutting programme which saw 14,000 posts slashed last year and is expected to see 5,000 more go by 2016, with dozens of branches also closing down.

It has yet to announce any further cuts but it is understood that in the longer term Barclays is likely to see further headcount reduction driven by the use of technology to do the kind of work currently carried out by staff.