Bloomberg News

Barclays to Fire 275 Investment-Banking Workers in New York

February 06, 2013

Barclays to Cut 275 N.Y. Investment-Bank Workers

A Barclays PLC trader holds his hand to his face while working on the floor of the New York Stock Exchange. Photographer: Scott Eells/Bloomberg

Barclays Plc’s investment-banking business plans to eliminate 275 jobs at three New York City locations in May, according to a filing with state regulators.

Reductions will occur May 15 and in the two weeks thereafter, the London-based firm said today in a filing with New York’s Department of Labor. Kerrie Cohen, a spokeswoman for Barclays, didn’t immediately respond to an e-mail seeking comment on the filing.

Antony Jenkins, 51, who took over as chief executive officer last year after the bank agreed to pay a then-record fine for attempting to manipulate the London interbank offered rate and other benchmark interest rates, will update investors next week on the bank’s review of its strategy. The firm said this week it will cut its bonus pool as it sets aside an additional 1 billion pounds ($1.6 billion) to cover mis-selling of payment-protection insurance and other products.

Job cuts disclosed in today’s filing affect Barclays offices at 200 Park Ave., 745 Seventh Ave. and 1301 Avenue of the Americas, the document shows.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus