BarCap to cut hundreds of jobs in an effort to cut costs

first_imgThe investment banking arm was responsible for around 87 per cent of Barclay’s total earnings last year, with Bob Diamond’s team raking in a £3.4bn quarterly pre-tax profit. However, certain measures of BarCap revenue were down 38 per cent in the last three months, prompting drastic action from the group. Further, the wage bill for the group reached £5bn in the year, gaining £1bn in the last year that was mostly spent within BarCap as it expanded. Diamond said after the company’s results announcement last week that BarCap’s total headcount will end up higher by the end of 2010. BarCap declined to comment on the redundancies last night. whatsapp whatsapp BarCap to cut hundreds of jobs in an effort to cut costs Share Show Comments ▼center_img Tuesday 10 August 2010 9:00 pm KCS-content BARCLAYS Capital is expected to announce hundreds of redundancies as early as today, affecting back office staff across the firm’s global operations. It is understood the layoffs are intended to cut costs to compensate for a sharp fall in market activity in the second quarter. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Tags: NULLlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *