Barclays Joins Rivals in Culling Investment-Banking Staff
- Reductions rolled out this week impact approximately 200 jobs
- Banks have been grappling as recessionary fears stymie deals
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Barclays Plc has begun eliminating jobs across its investment-banking group, according to people familiar with the matter.
The London-based bank will cut about 200 jobs and began the reductions this week, said one of the people, all of whom asked not to be identified discussing a private matter. The cuts represent less than 3% of the division’s global headcount, the person said.