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Thousands more staff facing axe at Barclays

By John-Paul Ford Rojas

Barclays is reportedly planning to cut more than 30,000 jobs as it speeds up cost-cutting after firing chief executive Antony Jenkins.

A radical redundancy programme could see the bank's global workforce fall from 132,000 to below 100,000 by the end of 2017, according to The Times.

The lender, which has not yet commented, will face pressure to clarify plans when it unveils half-year financial results next week.

The bank is already undergoing a major cost-cutting programme which saw 14,000 posts slashed last year and is expected to see 5,000 more go by 2016, with dozens of branches also closing down.

It has yet to announce any further cuts, but it is understood that in the longer term Barclays is likely to see further headcount reduction driven by the use of technology to do the kind of work currently carried out by staff.

Chief executive Mr Jenkins was fired earlier this month as recently-appointed chairman John McFarlane - who has taken over at the helm until a replacement is found - said the bank needed a new leader to speed up change.

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