openPR Logo
Press release

SAJJAD PURVEZ London: Barclays to cut jobs in corporate arm

04-21-2011 03:13 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: sp media

/ PR Agency: Sajjad Purvez - SP MEDIA
Sajjad Purvez - Barclays Bank

Sajjad Purvez - Barclays Bank

SAJJAD PURVEZ LONDON, April 21 (Reuters) - British bank Barclays Plc has this week offered hundreds of staff in its corporate banking arm voluntary redundancy as part of its plan to cut costs and boost profitability.
A spokesman for Barclays confirmed voluntary redundancy is being offered.
"As part of the transformation of Barclays Corporate we are examining ways to optimise growth as well as control costs, and to this end have entered a period of consultation with our employees' trade union and representative bodies," he said in a statement.
Hundreds of UK staff had been offered the option, one source said. Barclays Corporate employs about 11,000 staff globally.
The move -- which a second source said is dubbed "Project Olive" -- is part of a shake-up by new Barclays chief executive Bob Diamond, who wants to cut costs by 500 million pounds ($822.6 million) this year and by at least 1 billion annually by 2013.
He also plans to sell or shrink units that do not measure up, after saying in February that tougher regulations are crimping profitability, prompting his action to get back to a 13 percent return on equity. ($1=.6078 Pound) (Reporting by Steve Slater and Sarah White; Editing by Jon Loades-Carter)

www.sajjadpurvez.tk

www.sajjadpurvez.tk Posted by Sajjad Purvez at 05:27
SP media
Corporate news company ( an individual online news circle, stay connected with the latest news all over the globe)

269,
11th main
Yelehanka
Bangalore - 560049

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release SAJJAD PURVEZ London: Barclays to cut jobs in corporate arm here

News-ID: 172035 • Views:

More Releases from sp media

SAJJAD PURVEZ - Lady Gaga pulls plug on exclusivity deal with Target
SAJJAD PURVEZ - Lady Gaga pulls plug on exclusivity deal with Target
The word is that Lady Gaga is saying bye-bye to Target. The flamboyant pop star has scrapped her deal with the Minneapolis-based retail giant to carry the deluxe edition of her next release, "Born This Way," according to the Advocate, a leading national publication that covers GLBT [gay, lesbian, bisexual and transgender] issues. The rift stems over Target's corporate donations to the MN Forward political action committee. That PAC supported

More Releases for Barclays

Bridging Loans Market Next Big Thing | HSBC, NatWest , Barclays Plc
A Latest intelligence report published by AMA Research with title "Bridging Loans Market Insights, Forecast to 2030" provides latest updates and strategic steps taken by competition along with growth estimates of market size. The Bridging Loans Market report gives clear visions how the research and estimates are derived through primary and secondary sources considering expert opinion, patent analysis, latest market development activity and other influencing factors. Free Sample Report +
Bancassurance Market is Booming Worldwide | SBI, American Express, Barclays
The latest report on the "Bancassurance Market To 2028" by the AMA Research includes an analysis of various factors such as size, share, growth factors, sales, demand, revenue, trade, forecast, and global companies analysis. The report provides a detailed examination of the current status of factors such as supply chain management, niche markets, distribution channels, trade, supply and demand, and production capability across different countries to provide a more comprehensive
Asset-Backed Securities Market 2019,Top Key Players are;A.M. Best, Alliance Data …
Asset-Backed Securities Market Report 2019 An Asset-Backed Security (ABS) is a security whose pay installments and consequently worth is gotten from and collateralized (or sponsored) by a predefined pool of hidden resources. The pool of advantages is regularly a gathering of little and illiquid resources which are unfit to be sold exclusively. Get a Sample PDF Report: @ https://bit.ly/2x7UfY4 Pooling the advantages into budgetary instruments enables them to be offered to
FinTrack Market Is Booming Worldwide| Paytm, SkyWatch, Barclays, DBS Bank
HTF Market Intelligence released a new research report of 19 pages on title 'FinTrack Market 2018’ with detailed analysis, forecast and strategies. The study covers key regions that includes North America, Europe or Asia and important players such as Stripe, AgeWage, Barclays, Umpqua Bank, DBS Bank, Aberdeen Standard Investments, Paytm, SkyWatch, Homelyfe Request a sample report @ https://www.htfmarketreport.com/sample-report/1399361-fintrack-september-2018 Summary Every month, FinTrack will showcase the latest innovations from financial providers around the
2018 Banking Competitor Profile: Barclays
Barclays is one of the largest banks in the UK, and is a leading provider of all the main banking products. Mortgages are a particular strength for the bank - it has won a number of awards for its product range and has an NPS score three times higher than the market average. Barclays customers are heavy users of mobile banking - a quarter use this channel on a daily
Vehicle Tracking Specialist Quartix Wins Barclays Corporate Award
Quartix, one of today’s leading suppliers of vehicle tracking systems, has won the Barclays Corporate prize in this year’s Cambridge News Business Excellence Awards. Norfolk, UK, March 30, 2012 -- The UK company met all Barclays’ criteria, including showing market strength in the economic climate, adaptability, good turnover growth, strong market share – and the ability to diversify into new markets. Cambridge News reported: ‘Quartix ticks every box. Vehicle tracking is what this