Barclays to Cut 2,100 Jobs

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LONDON — Barclays, the British banking giant, said on Tuesday that it would cut 2,100 jobs in its investment banking and wealth management units, a stark sign that the global financial crisis continues to deepen.

The cuts represent 7 percent of the bankers and back-office workers in what was once a big profit center at the bank but has become a drag as banking and investment activity has ground to a halt.

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Barclays Capital, the investment bank, will absorb the bulk of the job losses, 1,300 in total, while the wealth management unit will lose 500 positions and Barclays Global Investors 300.

http://www.nytimes.com/2009/01/14/business...14barclays.html