Barclays to Lay off Some US Consumer Bank Workers to Streamline Unit
25 Outubro 2023 - 11:52AM
Dow Jones News
By Joe Hoppe
Barclays will lay off a number of employees in its U.S. consumer
bank division, in a bid to cut costs and streamline the
business.
The British banking giant will lay off dozens of employees,
equivalent to around 3% of the unit's workforce, Reuters reported
Wednesday, citing an unnamed source familiar with the
situation.
A Barclays U.S. Consumer Bank spokesperson said Wednesday to Dow
Jones Newswires that the company had recently streamlined and
simplified the division's operating model, which resulted in a
limited number of roles being made redundant.
"We review our business on a regular basis to ensure we are
operating as effectively and efficiently as possible to best serve
our customers, clients and shareholders," the spokesperson
said.
"These decisions are never easy and employees whose roles have
been impacted will receive a full range of transition services,
including severance and job outplacement support."
On Tuesday, the bank said it could potentially book one-off
material costs in the fourth-quarter from measures aimed at cutting
structural costs, which it expects to help drive future returns. An
update on cost efficiencies, disciplined capital allocation and
revised financial targets will be set out at full-year results in
February, it then added.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
October 25, 2023 10:37 ET (14:37 GMT)
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