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Barclays cuts jobs

Barclays has cut 2,700 jobs in its investment bank this year. This is part of the British bank’s plan announced in May to cut 7,000 positions over three years. Tom King, chief executive of Barclays investment bank, said at the Barclays Financial Services Conference there were tentative signs of a pick-up in trading activity after a slow July and August. “We are in a cyclically slower part of the year. For this quarter it’s usually about September. It’s very early days, but September seems to have the hallmarks of what could be a nice, attractive month, we’re seeing a bit of volatility in the trading business and the issuance calendar is robust,” King said.

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