Barclays bank to cut more jobs in "process to reduce headcount"

Barclays bank to cut more jobs in "process to reduce headcount"London  - Britain's Barclays bank is to cut at least 2,100 job globally across its investment banking and wealth management businesses, the BBC reported Tuesday.

Barclays, which employs 150,000 staff around the world, is believed to be planning to cut 1,300 jobs at its investment arm Barclays Capital, while 500 positions will be axed at Barclays Wealth.

A further 370 jobs are set to go at Barclays Global Investors. Earlier this month, the bank announced that about 400 jobs would go - mainly in its IT departments in Britain.

Trade unions said a quarter of the new job cuts would be in Britain.

Barclays would not confirm the figures but said it had begun a "process to reduce headcount across some parts of our investment banking and investment management units to ensure that we are appropriately sized given the current market conditions."

Last November, Barclays shareholders voted overwhelmingly in favour of a plan to raise 7 billion pounds (10 billion dollars) from investors in the Middle East, rather than drawing funds from the British government's massive bailout package. (dpa)

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