The British bank could cut as many as 400 jobs in its domestic retail business, one of the sources said, but added that the numbers were not final.
The second source said the bank was planning investment bank cuts that were part of annual assessments of banker performance and that the two rounds of cuts were not related, adding that some retail staff could be redeployed or take voluntary redundancy.
A Barclays spokesperson said: “We do not comment on speculation. We regularly review our operations to ensure we meet the evolving needs of our customers and clients in an efficient and effective way.”Barclays CEO C.S. Venkatakrishnan is separately embarking on a wider strategy review, amid some investor dissatisfaction at the bank’s underperformance relative to Wall Street investment banks.
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