British banking giant Barclays is to cut over 2,000 jobs in its retail and commercial businesses, it said today, a day after announcing a similar number of job losses in its investment divisions.
The new cuts, which could affect staff in its high street branches, bring to over 4,000 the number of Barclays job losses as the banking sector struggles to recover from the credit crunch.
The firm will take 'all possible measures' to cut compulsory lay-offs, including natural attrition, releasing contractors, closing vacancies and calling for voluntary redundancies.
Worldwide, Barclays employs around 32,500 people in its investment banking and investment management divisions.
A Barclays source said yesterday that the 2,100 cuts would be made in its Barclays Capital, Barclays Global Investors and Barclays Wealth divisions.
Less than a week ago, Barclays announced plans to cut over 400 IT jobs, saying it was doing so in order to run a more efficient operation.
