Barclays Restructures, Cuts 5,000 Jobs in Efficiency Drive

Barclays Announces Global Workforce Reduction, Cutting 5,000 Jobs

Barclays, the British multinational bank, revealed today its plans to reduce its global workforce by 5,000 jobs. This move is part of the bank’s ongoing efficiency drive, which began with a hiring freeze last year. The job cuts will primarily affect support roles within Barclays Execution Services and the Chief Operating Officer functions, both of which are based in the UK. By making these cuts, Barclays aims to streamline its operations and improve overall efficiency within the organization.