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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Union: Staff bearing brunt of bosses bad decisions

Investment banking union, UNI Finance, a sector of UNI Global Union which represents more than 3 million finance workers across the globe has called for Barclays to reinvest in job creation in its retail operations. In a statement, UNI Global Union General Secretary Philip Jennings said:

Barclays workers are enduring a period of intense and unprecedented upheaval at a time when stress and health problems have never been worse in the banking sector.

For how long will bank employees have to bear the brunt of poor decisions made by executives in the past?

All the while the big boss bonus culture continues unabated.

Barclays must reinvest in job creation in retail operations and recognise the efforts of its loyal workforce.

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