Barclays Layoffs

Barclays is cutting over 100 technology and back office jobs from its offices in Singapore, a source with direct knowledge of the matter said on Monday, as it seeks to reduce costs by relocating those roles elsewhere.

Barclays Plc will announce job cuts in its investment banking businesses across Asia, including closing the businesses in Korea and Taiwan, people with direct knowledge of the matter told Reuters, in the latest cuts for the London-based lender in the region.

Barclays Plc plans to cut more jobs in its investment banking unit, a source familiar with the matter said, as the British bank steps up efforts to slash costs and boost profit.

The Times newspaper reported that the bank was planning to cut more than 30,000 of its staff within two years as it considers accelerating a cost-cutting programme following the departure of Chief Executive Antony Jenkins.

But it is also paying staff higher bonuses, risking a backlash from the politicians and taxpayers who bailed out much of the industry during the financial crisis.

Britain's fourth-largest bank is expected to cut about 30-40 jobs as a result of the closure of the three branches, one of the sources told a news agency. The sources declined to be named as they are not authorised to speak to the media.

Barclays is cutting over 100 technology and back office jobs from its offices in Singapore, a source with direct knowledge of the matter said on Monday, as it seeks to reduce costs by relocating those roles elsewhere.

Barclays Plc will announce job cuts in its investment banking businesses across Asia, including closing the businesses in Korea and Taiwan, people with direct knowledge of the matter told Reuters, in the latest cuts for the London-based lender in the region.

Barclays Plc plans to cut more jobs in its investment banking unit, a source familiar with the matter said, as the British bank steps up efforts to slash costs and boost profit.

The Times newspaper reported that the bank was planning to cut more than 30,000 of its staff within two years as it considers accelerating a cost-cutting programme following the departure of Chief Executive Antony Jenkins.

But it is also paying staff higher bonuses, risking a backlash from the politicians and taxpayers who bailed out much of the industry during the financial crisis.

Britain's fourth-largest bank is expected to cut about 30-40 jobs as a result of the closure of the three branches, one of the sources told a news agency. The sources declined to be named as they are not authorised to speak to the media.