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Barclays to cut 7,000 UK jobs as bonus pool up 10%

Barclays said today its total bonus pool for 2013 rose to £2.38 billion from £2.17 billion for 2012, including a £1.57 billion payout for its investment banking staff.

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Barclays cutting 7,000 UK jobs

Barclays has confirmed it is in the process of cutting 10,000 to 12,000 jobs this year, of which 7,000 losses are expected in the UK.

However, the group stated that around half of these redundancies have already been announced to staff internally.

Barclays' bonus pool rose to £2.38 billion last year, up 10% from 2012. Credit: PA

Barclays also said it would cut 820 senior manager roles, including 220 managing directors and 600 directors.

The group currently has a 140,000 strong workforce.

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