LONDON (dpa-AFX) - Barclays Plc is set to reduce more than 200 jobs in its investment banking division as part of CEO C.S. Venkatakrishnan's strategy to enhance profitability, Bloomberg reported citing people familiar with the matter.
The report said that The layoffs, which represent approximately 3% of the investment bank's workforce, will impact staff in investment banking, global markets, and research, with managing directors being among the most senior affected.
The downsizing aims to allow the bank to redirect resources toward key growth areas.
Meanwhile, Barclays' investment banking unit is looking to strengthen revenue streams in equity capital markets and mergers and acquisitions, with a particular focus on sectors like health care, industrial, technology, and energy transition, the report said.
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