Barclays plans to cut “hundreds” of jobs as soon as next week and will dismiss about 5% of client-facing staff in the trading division, as well as some dealmakers in its investment banking operations, people familiar with the matter told Bloomberg’s Jan-Henrik Forster, Harry Wilson and Irina Angh. The bank is also preparing to restructure teams within its U.K. consumer-banking unit, the report said. “We do not comment on speculation. We regularly review our operations to ensure we meet the evolving needs of our customers and clients in an efficient and effective way,” Barclays said in a statement to Bloomberg.
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