Barclays Wealth to cut up to 500 staff
Barclays Wealth is to lay off up to 500 staff from the wealth manager’s operations after a review of its business.
A spokeswoman for the wealth manager said: “The lay offs will predominately affect our UK operations and apply to staff across all job functions.”
The job cuts represent 6% of Barclays Wealth’s total worldwide staff. The spokeswoman would not disclose what percentage of the workforce in the UK would be affected by the cuts.
Last week the wealth manager announced 30 redundancies from its operations in Singapore and Hong Kong.
Barclays Wealth had been one of the fastest growing wealth managers in the UK since the UK bank merged all of its wealth management operations under the Barclays Wealth brand in 2005.
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