After firing its chief executive Antony Jenkins this month, Barclays plans to cut 30,000 jobs within two years. After The Finance Conduct Authority’s supervisory team conducted 186 visits to Barclays in 2014, the most among the biggest British banks. The bank sought the only way to address its chronic underperformance and double its share price is to cut more than 30,000 jobs by the end of two years.
Other Important Headlines
- Pearson sounding out possible bidders for Financial Times which may value $1.6 billion sale to the business.
- Paypal tops ebay by valuing about $52 billion.
- Tata Steel to raise Rs.10,000 crore through sale of securities, seeks Shareholders’ approval.