Cuts: Barclays slashed around 5,000 jobs in 2023
Barclays slashed around 5,000 jobs in 2023 as part of a major cost-cutting drive.
The bank said the cuts were part of an ‘ongoing efficiency programme designed to simplify and reshape the business, improve service and deliver higher returns’.
Around a quarter of the reductions to its 84,000-strong workforce worldwide were in Britain, according to Sky News.
The losses came through a combination of redundancies and vacancies that will not be filled after a hiring freeze was brought in last year.
The cost-savings are being led by chief executive CS Venkatakrishnan – known as Venkat – in a bid to boost profits.
A spokesman said: ‘Barclays removed approximately 5,000 headcount globally through 2023 as part of its ongoing efficiency programme designed to simplify and reshape the business, improve service and deliver higher returns.’
