Barclays to close branches and cut hundreds of jobs

Jan 28, 2014, 11:51 PM EST
REUTERS/File

Barclays plans to close a quarter of its branches in the U.K. and cut hundreds of jobs in its investment banking division as part of a restructuring. The lender is expected to replace about 400 branches with smaller outlets in Asda supermarkets. The job cuts come on top of 3,700 layoffs announced early last year.
Background:
Barclays to close 400 U.K. branches [BBC]
Barclays to cut hundreds more investment bank jobs: source [Reuters]

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