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Barclays 'to cut at least 70 jobs in Asia investment banking'

Published on Jan 24, 2013 4:45 PM
 
In this file photo taken on Jan 26, 2011, a sign hangs outside a branch of Barclays Bank in London. Barclays is cutting at least 70 jobs in its Asian investment banking business as part of a global strategic review started by its chief executive Antony Jenkins, sources familiar with the matter told Reuters on Thursday, Jan 24, 2013. -- PHOTO: REUTERS

HONG KONG (REUTERS) - Barclays is cutting at least 70 jobs in its Asian investment banking business as part of a global strategic review started by its chief executive Antony Jenkins, sources familiar with the matter told Reuters on Thursday.

The total number of staff to be cut has not been finalised, but it could be as high as 90 people, the sources said, declining to be identified because the matter is confidential.

Goldman Sachs analysts in a recent research note said the bank could cut 15 per cent of its investment banking staff globally, amounting to some 3,500 out of 23,300 employees.

A spokesman for Barclays declined to comment.

 
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