Barclays Plc is preparing to cut about 200 positions across its investment bank starting next week, according to people with knowledge of the matter.
The UK bank will begin eliminating jobs of varying seniority, mainly in New York and London, as soon as Tuesday, said the people, who asked not to be identified discussing private information. The reductions are in addition to the roughly 5,000 jobs Barclays said last month it was planning to trim.
The moves are part of an annual effort to boost efficiency and prioritize investment in talent, one of the people said.
A spokesperson for Barclays declined to comment. EFinancialCareers previously reported some of the details.
Barclays said in October that it was cutting 5,000 jobs to reduce costs through the use of artificial intelligence. That figure included 1,000 positions that the bank slashed in the first half of the year. It employed about 93,000 people globally at the end of 2025.
The bank is working to spend about £600 million ($793 million) this year — roughly double an earlier estimate — to bring down future costs. Investors were disappointed by Barclays’ expenses in its first-half earnings.
{{/usCountry}}The bank is working to spend about £600 million ($793 million) this year — roughly double an earlier estimate — to bring down future costs. Investors were disappointed by Barclays’ expenses in its first-half earnings.
{{/usCountry}}Chief Executive Officer CS Venkatakrishnan has been working to overhaul the firm’s investment bank since his appointment to the role in 2021.
Earlier this year, Barclays said it was overhauling the leadership of its investment bank. Mike Joo, formerly at Bank of America Corp., is set to join the bank next year, to assume the position of the arm’s co-head alongside Adeel Khan, who runs global markets.