Barclays chief executive Antony Jenkins will next month take an axe to the cost structure of the bank, promising to close a quarter of its 1,600 branches in the UK and cutting hundreds of investment banking jobs, as he outlines five-year targets.
The closures illustrate the bank's increasing view of technology offering improvements in customer care while cutting costs, according to analysts cited by the Financial Times (£).
The bank is to replace some of its 400 branches with smaller units in Asda Supermarkets.
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