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Barclays expected to announce thousands of job cuts

Barclays is expected to announce thousands of additional job cuts as part of a radical restructuring of the bank.

The job losses are likely to impact Barclays' investment banking arm, which faces losing over a quarter of its staff by the time the reforms are complete.

Barclays is undertaking a major restructuring to improve performance. Credit: Yui Mok/PA Wire

The figures are expected to be in addition to the 10-12,000 jobs the bank had indicated it would cut after it published full-year results in February.

Paperwork blunder to cost Barclays £100m

Document errors made by Barclays reportedly go back five years. Credit: Joe Giddens/PA Wire

A £100m paperwork error made by Barclays will result in more than 300,000 customers who have taken loans with the bank each receiving a refund for hundreds of pounds.

According to The Times, Barclays admitted that it had incorrectly charged interest to people making personal loans after making mistakes on documents.

Customers will receive the refund next month as the errors are in breach of the Consumer Credit Act.