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Barclays may axe 30,000 jobs

Barclays is planning a major downsizing, which is expected to affect more than 30,000 jobs with the next two years, according to news reports. The bank had earlier fired its CEO Antony Jenkins. The job cut may bring down the bank’s global workforce to less than 100,000 by 2017, the reports added and the bank is said to be considering this as the only way to address the bank’s chronic under-performance and double its share price. These job cuts are likely to affect staff at middle and back office operations, where largest savings are achieved.

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