Barclays to cut about 100 senior jobs to save costs – The National

Barclays to cut about 100 senior jobs to save costs – The National

Britain's Barclays is embarking on a plan to cut about 100 senior jobs, mostly in trading roles, as the British lender seeks to rein in costs.. The bank has started trimming mainly managing director and director positions in London and Asian financial hubs, according to people familiar with the matter, who asked not to be identified as the details aren't public.. A spokeswoman for Barclays in London declined to comment on the cuts, which are among the first to be implemented by a major investment bank in 2020.. Last year saw several European lenders reshape their securities units, eliminating thousands of roles amid increasing competition from US peers and a lacklustre home market.. Jonathan Kitei, head of securitised product sales for Americas, Tim Johnston, head of Europe, Middle East and Africa, cash high-touch trading and sales, and Anindya Das Gupta, head of treasury in India, are leaving the bank as part of the cuts, people familiar with the matter said.. About a dozen positions in Asia have been hit, though the cuts won't result in a retreat from any business or market in the region, one of the people said.. The bank reports its full-year results in February.. Banks announced