Thursday, May 08, 2014

Barclays - The Bad Bank

Barclays has increased its redundancy target this year to over 14,000, with 7,000 set to go from Barclays Capital (the current headcount of Barclays Capital numbers 26,000).

The redundancies are aimed at cutting costs and, more importantly, reducing the proportion of risk assets used by the investment bank.

A "bad bank" (non core division) will be set up to handle the process of shrinking the bank and £115BN of risk assets.

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