Barclays cuts 400 more staff

Tim Wallace
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BARCLAYS is cutting 400 staff in its corporate banking arm as part of chief Antony Jenkins’ long-term plan to use new technology to automate more processes, the bank said yesterday.

Of those, 300 are in operations and technology, the biggest chunk of whom are in London. The remaining 100 are mostly in product specialists. Relationship managers will be trained to take over their roles. Another 120 jobs are potentially under threat.