Barclays has announced that it is cutting 3,700 jobs and scaling back its European and Asian equities businesses as it attempts to move on from the path set by former CEO Robert Diamond, according to the Wall Street Journal.
“Barclays is changing … there will be no going back to the old way of doing things,” said new CEO Antony Jenkins. “It’s time to move on.”
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The cuts will effect less than 4 percent of Barclay’s workforce and 1,800 of the eliminated jobs will come from Barclay’s investment bank.
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