barclays

Barclays To Cut 3,700 Jobs As Part Of Its 'Project Transform'

Barclays To Cut 3,700 Jobs As Part Of Its 'Project Transform'

By Steve Slater and Matt Scuffham LONDON -- Barclays new chief executive pledged a fresh course for the British lender on Tuesday, axing at least 3,700 jobs and pruning its investment bank as he seeks to rebuild its reputation and boost profitability after a series of scandals. In an attempt to distance the... Read More »

Barclays CEO Antony Jenkins, Under Fire, Declines $4 Million Bonus

Barclays CEO Antony Jenkins, Under Fire, Declines $4 Million Bonus

New Barclays Chief Executive Antony Jenkins has opted not to take a bonus for 2012, saying he should "bear an appropriate degree of accountability" for the difficult year his bank endured. Jenkins, who became CEO in August, said he was aware of considerable speculation about his bonus so to avoid further... Read More »

Rachel Walsh, Mother of Baby With Cancer, Sues Barclays For $10 Million

Rachel Walsh, Mother of Baby With Cancer, Sues Barclays For $10 Million

By Alan Farnham A young mother whose baby was born with cancer claims that Barclays Capital fired her after an extended leave of absence, at which time Barclays canceled her child's health coverage. Barclays, she says, contested her eligibility for unemployment, forcing her to draw down her savings to support... Read More »

Barclays Plans To Cut Up To 2,000 Jobs, But Some Execs Push For Bigger Purge

Barclays Plans To Cut Up To 2,000 Jobs, But Some Execs Push For Bigger Purge

Barclays PLC plans to cut as many as 2,000 jobs in its investment bank as part of a broad restructuring of the company, The Wall Street Journal reported, citing people familiar with the British bank's plans. The paper said senior Barclays executives are planning to recommend that the bank cut between 1,000... Read More »

Bad Bosses: How Inept Execs Got Away With Mismanagement And Scandal In 2012

Bad Bosses: How Inept Execs Got Away With Mismanagement And Scandal In 2012

Companies lay off vast numbers of workers with such regularity that you may not have noticed the announcement. Last week Citigroup Inc. said it would lay off 11,000 workers worldwide, citing a need to reduce expenses. Yet, at the same time, Citi revealed it gave top execs hefty "incentive awards," including... Read More »

Ex-Barclays CEO, Citing Scandal, Gives Up $31 Million Bonuses, Still Takes Salary

Ex-Barclays CEO, Citing Scandal, Gives Up $31 Million Bonuses, Still Takes Salary

By the CNN Wire Staff London (CNN) -- Former Barclays bank chief executive Bob Diamond will voluntarily give up bonuses worth $31 million after he resigned in the wake of a rate-rigging scandal, the bank said Tuesday. Diamond will still receive 12 months salary after his resignation last week, the bank said... Read More »

World's Most Attractive Employers 2011

World's Most Attractive Employers 2011

They had their lives mapped out. Having won and completed ultra-competitive summer internships at Lehman Brothers. They entered senior fall with a job offer in their pocket. But as the American financial sector crumbled in September 2008, and Lehman Brothers filed the largest bankruptcy in U.S. history, those... Read More »

Barclays Set To Cut 3,000 Jobs After Missing Profit Expectations

Barclays Set To Cut 3,000 Jobs After Missing Profit Expectations

Barclays is set to cut about 3,000 jobs this year to reduce costs after a drop in bond trading and an insurance mis-selling charge cut first half profits by a third. The British bank's performance was more resilient than rivals, however, as bad debts tumbled and it kept costs steady. Read More »

Who's Sorry Now? Investment Bankers

Who's Sorry Now? Investment Bankers

The recent meltdown in the financial industry is finally affecting some of its top earners. At least one bank, Barclays PLC, is seeing that bonuses will be deferred for senior executives in its investment banking division -- for three years! Meanwhile, staffing overall has increased at Barclay's, and general... Read More »

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