On Air Now

Listen

Listen Live Now » 101.9 FM Central Wisconsin

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
61° Feels Like: 61°
Wind: SE 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Mostly Clear 53°

Tomorrow

Mostly Sunny 78°

Mon Night

Thunderstorms 67°

Alerts

Barclays consults on job cuts at UK investment bank

A man passes automated teller machines at a Barclays bank branch in London August 30, 2012. REUTERS/Neil Hall
A man passes automated teller machines at a Barclays bank branch in London August 30, 2012. REUTERS/Neil Hall

LONDON (Reuters) - Barclays has launched a consultation with employees in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, it said on Tuesday.

Jenkins, who took over in August, is revamping Barclays following the exit of Bob Diamond when the bank was fined for rigging Libor interest rates.

Recent media reports have said Barclays is expected to cut around 2,000 investment bank jobs as part of a restructuring to be unveiled on February 12.

Banks around the world are axing jobs as they get to grips with high costs and tougher rules that have made them less profitable than in the past.

(Reporting by Matt Scuffham; Editing by Steve Slater)

Comments