Barclays to Cut 2,100 Banking Jobs

Financial colossus Barclays, the world’s 25th largest firm, will cut 2,100 jobs from its UK retail & commercial banking businesses and Barclays Wealth, which is likely to take job cuts at the bank past 4,000.

The company, which absorbed up the US operations of collapsed investment bank Lehman Brothers last year, has “begun a consultation process to reduce headcount.”

The bank will continue to hire in areas such as equities.

Unions have accused the bank of failing to keep workers informed about future employment levels.

Founded in 1690, the bank has been struggling financially since 2007.