Barclays

2024 - 1 - 8

Barclays Sheds 5000 Jobs Globally: A Look into the Cost-Cutting Drive

automation - Barclays - cost-cutting drive - ESG bonds - financial industry - job cuts - technology advancements

What's the latest at Barclays? Find out why 5000 jobs have been axed and how it's reshaping the bank's future!

Barclays bank recently made headlines with the announcement of cutting 5000 jobs globally, a significant move in its ongoing cost-saving drive. The reduction, higher than previously reported, will see a quarter of the cuts taking place in the UK. This strategic overhaul forms part of Barclays' efforts to simplify and reshape its operations, responding to the changing market dynamics and enhancing efficiency.

As Barclays confirms shedding over 5% of its global workforce, the focus shifts to the impact on the bank's performance. Reports indicate that Barclays' stock trailed the S&P 500 by 23% in 2023, raising questions about its future trajectory in the financial landscape. With a push to streamline operations, the bank aims to improve its market positioning and navigate challenges effectively.

Throughout 2023, Barclays axed around 5000 positions from its workforce of 84000, emphasizing the need for structural changes to drive long-term sustainability. The global job cuts align with Barclays' commitment to an ongoing efficiency programme, signaling a concerted effort to enhance competitiveness and adapt to evolving market conditions.

In the midst of workforce restructuring, Barclays' shift towards automation and technology advancements has played a crucial role in the decision-making process. The deployment of automation capabilities has been a key driver in the cost-cutting initiatives, reflecting the bank's strategic alignment with digital transformation trends.

Did you know that Barclays researchers found that global ESG bonds held steady in 2023, outperforming similar equity funds? This signals a growing trend towards sustainable investment practices, shaping the financial industry's future landscape. Additionally, stay tuned for updates on Barclays' stock performance as it navigates through the aftermath of the significant job cuts and strategic realignment.

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Image courtesy of "BBC News"

Barclays bank cut 5000 jobs in cost-saving drive (BBC News)

The reduction is much higher than previously reported and a quarter of the cuts will take place in the UK.

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Image courtesy of "Sky News"

Barclays axes 5000 jobs globally in cost-cutting drive (Sky News)

Barclays is expected to confirm that it is shedding just over 5% of its global workforce when it reports annual results next month, Sky News learns.

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Image courtesy of "Reuters"

Barclays slashed 5000 jobs in 2023 as latest overhaul ramps up (Reuters)

Barclays slashed its workforce by around 5000 jobs in 2023 as part of a major cost-cutting drive announced last year, the bank said on Monday.

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Image courtesy of "The Independent"

Barclays axes around 5000 jobs globally (The Independent)

The bank said the jobs were 'removed' as part of its 'ongoing efficiency programme'.

Barclays Stock Trailed S&P 500 By 23% In 2023. What Happens Next? (Forbes)

Barclays' stock (NYSE: BCS) has gained 1% YTD, as compared to the 2% drop in the S&P500 over the same period.

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Image courtesy of "City A.M."

Barclays cut 5000 jobs in 2023 in bid to 'simplify and reshape' (City A.M.)

Throughout 2023, Barclays axed roughly 5000 positions from its 84000-strong workforce, with about a quarter of these in its UK operations.

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Image courtesy of "Mirror.co.uk"

Barclays bank 'cuts 5000 jobs in major cost-cutting drive for 2024' (Mirror.co.uk)

The new figure is more than double the amount circulated in media reports late last year, with 5000 jobs having been shed in a major cost-cutting exercise ...

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Image courtesy of "Pensions & Investments"

Global ESG bonds hold steady in 2023, outdraw similar equity funds ... (Pensions & Investments)

Global ESG bonds held their own in 2023, drawing more funds than ESG-labeled equity funds, Barclays researchers found.

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Image courtesy of "LBC"

Barclays axes 5000 jobs worldwide in bid to cut costs for 2024 (LBC)

The bank said the jobs were "removed" globally as part of its "ongoing efficiency programme". The majority of individuals impacted worked as part of the ...

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Image courtesy of "eFinancialCareers"

Barclays' managing directors are leaving before bonuses (eFinancialCareers)

Barclays will not announce its bonuses until February but some managing directors appear to leaving preemptively. Angus Abbott, a London-based inflation ...

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Image courtesy of "Telegraph.co.uk"

Barclays sheds 5000 jobs amid cost-cutting drive (Telegraph.co.uk)

Barclays cut its workforce by around 5000 last year as part of an ongoing push to strip costs from the lender.

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Image courtesy of "pymnts.com"

Barclays' 2023 Layoffs Reached 5000 as Banks Cut Back (pymnts.com)

Barclays reportedly laid off about 5000 workers in 2023 as part of a cost-cutting campaign, with most of the cuts in the British bank's support unit.

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Image courtesy of "Financial News"

Barclays cut 5000 jobs last year in cost-reduction push (Financial News)

Barclays cut around 5,000 employees last year as the UK lender prepares to unveiled a strategy shift after announcing a cost-cutting drive in 2023.

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Image courtesy of "Braintree and Witham Times"

Barclays axed 5000 jobs in promise to simplify business (Braintree and Witham Times)

The banking giant Barclays has said it cut around 5,000 jobs in 2023 to “simplify and reshape the business”. This follows multiple store closures in the UK.

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Image courtesy of "Proactive Investors UK"

FTSE 100 Live: Barclays axes 5000 jobs, B&M's special dividend (Proactive Investors UK)

7:49am: Barclays cuts 5000 jobs, Games Workshop sales jump Other stocks to keep an eye on today include Barclays and Games Workshop. Barclays PLC...

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Image courtesy of "Proactive Investors UK"

Barclays ditches 5000 jobs as 'automation capabilities' improve (Proactive Investors UK)

Barclays PLC (LSE:BARC) cut 5000 jobs over the course of last year in a bid to reduce costs and as “technology and automation” improved. Marking the most...

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Image courtesy of "Whitehaven News"

Barclays axed 5000 jobs in promise to simplify business (Whitehaven News)

The banking giant Barclays has said it cut around 5,000 jobs in 2023 to “simplify and reshape the business”. This follows multiple store closures in the UK.

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