Barclays plans significant IB cuts

摘要

BARCLAYS is planning to make wide and deep cuts to staffing in its investment banking division in the coming weeks, according to several sources. The European operation, headquartered in London's Canary Wharf, will bear the brunt of the reductions, which sources said will be greater than the usual 5% target seen across the banking industry at this time of year. A bank spokesman declined to comment.