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Bloomberg reported on November 8 that Barclays has begun laying off workers across its investment banking division, people familiar with the matter said. The bank’s layoffs this week amounted to less than 3% of the global workforce in its investment banking business. A person familiar with Barclays’ plans said the London-based bank remained committed to continuing to grow and invest in the business. Citigroup, Goldman Sachs and other big banks have already started reducing investment banking staff in the face of sharply reduced fees. Goldman Sachs confirmed last month that it will undergo a sweeping restructuring that will combine its iconic investment banking and trading businesses into one unit, while combining asset management and wealth management into another. (interface)
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