Barclays initially shocked markets in February saying it expected to cut 10,000 to 12,000 jobs. Today, the BBC reported that number would grow to 15,000 this year and now Sky News says an additional 6,000 jobs will be cut in the following two years.
About one-quarter of the firms investment banking arm will be eliminated by the time the cutting is done.
That’s a lot of high quality jobs disappearing.
