Barclays to cut again: 2,100 jobs globally
Barclays Singapore already retrenched 10 employees last week, and are set to cit 2100 more jobs globally. The declined to comment on whether the decision will affect its Singapore operations.
SINGAPORE : British banking giant Barclays is expected to cut 2,100 jobs in its investment banking and investment management arms globally.
AFP reported that the cuts would be made in its Barclays Capital, Barclays Global Investors and Barclays Wealth divisions.
But the bank declined to comment on whether the decision will affect its Singapore operations.
Barclays Capital Singapore’s Jonathan Williams (Corporate Communications) would only say that the bank has begun to reduce headcount across some parts of its global investment banking and investment management operations.
This is to ensure that the bank is “appropriately sized” for the current market conditions.
He added that Barclays will continue to hire selectively across those parts of its business that are still growing.
Channel NewsAsia understands that Barclays Singapore currently hires more than 2,500 employees, and that the bank is still hiring in Asia.
via CNA
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