Barclays to cut jobs - reports

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Barclays to cut jobs - reports

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Over 35,000 jobs are set to go at Barclays Bank. That’s according to the Times newspaper which reports the redundancy programme could lead to the number of employees falling below 100,000 and automating much of the business at its high street branches.

The reported cuts come after board members voted out the previous chief executive Anthony Jenkins who left earlier this month.

It’s believed his successor will be expected to slash costs more quickly which could mean more aggressive cuts to the bank’s 132,000 workforce as one way to address its under performance and hit a target to double its share price.