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Barclays to cull investment bank with 7,000 job cuts

Barclays is to cut 7,000 jobs from its investment banking division by 2016. It already announced job losses across the group of 12,000 for this year, but this has been increased to 14,000 as a result of the investment bank changes.

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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.

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