Barclays says that a slump in trading at its investment bank and sluggish mortgage demand has sent its first quarter pre-tax profits tumbling 12% to £2.3billion.
In a surprising turn of events, central banks across the Asia-Pacific region, from India to Australia, are poised to initiate interest rate cuts earlier than initially projected, influenced by the Fed
Barclays, one of the leading British banks, is reportedly exploring strategies to save as much as £1 billion, with the possibility of cutting up to 2,000 jobs, particularly in the bank's back-office o
Barclays is reviewing cost-saving plans that could result in around 2,000 job cuts, primarily in the bank s back office, as part of efforts to bolster profitability.
Managers at Barclays, led by Chief Executive CS Venkatakrishnan, are reviewing proposals to bolster its profitability. As part of these 1,500 to 2,000 jobs could be cut if implemented in full,