Thursday, March 7, 2013

Look Who’s Expecting Tens of Thousands of Job Cuts

According to Sky’s Mark Kleinman:The chief executive of Barclays has suggested that the growing automation of banking services could result in tens of thousands of jobs disappearing from its workforce during the next decade.

I have learned that during meetings with leading shareholders following Barclays' annual results last month, Antony Jenkins said that he envisaged a future in which the bank employed as few as 100,000 people. Barclays currently employs approximately 140,000 staff.

Mr Jenkins is understood to have discussed during the investor meetings the objective of Barclays becoming a self service-oriented company which allows its remaining staff to focus on delivering “added value” to customers and clients across its retail, investment and wealth management operations...

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