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Report: Barclays to lay off about 100 senior corporate, investment bank staff

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Report: Barclays to lay off about 100 senior corporate, investment bank staff

Barclays PLC is likely to lay off around 100 senior employees, mostly in trading roles across its corporate and investment bank, Bloomberg News reported, citing people familiar with the matter.

The British bank has started on the plan by cutting mainly managing director and director positions in its London and Asian hubs.

In mid-2019 Barclays said it would focus on reducing costs in the second half after it faced a "challenging income environment" in the first half.

By October 2019, European banks had announced nearly 50,000 job cuts in 2019, according to data compiled by S&P Global Market Intelligence.