Barclays credit news

Barclays credit news

Barclays Announces Exit from Commodities Trading

by on April 24, 2014

Barclays announced Tuesday that they would be exiting from the commodities trade. Following in the footsteps of other major banks, like JPMorgan Chase and Deutsche Bank, Barclays is now leaving the commodities business. Many speculate that these big banks are leaving due to increasing regulatory scrutiny and falling profits. However, although the banks may be leaving because of regulatory burdens, that doesn’t mean that others are leaving. This new opening creates a lot of opportunities for other businesses that don’t have regulatory constraints.
 

Barclays Cuts Up to 12,000 Jobs

by on February 11, 2014

The British lender Barclays announced Tuesday that it would be cutting up to 12,000 jobs this year, about 8% of its workforce. This overhaul is 12 months into their program initiated by CEO Antony Jenkins to repair the bank’s finances and restore its reputation following a series of scandals. The bank currently has 140,000 employees and is a top lender throughout the world. As part of its restructuring, they have already cut about 7,650 jobs and they will continue to cut as many as 12,000 more this year. This will include about 7,000 jobs in Britain, Barclay’s home market.