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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Barclays    BARC   GB0031348658

BARCLAYS (BARC)
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Delayed Quote. Delayed  - 01/17 05:35:29 pm
198.52 GBp   -0.44%
01/17 BARCLAYS : to cut up to 100 senior jobs at its investment bank
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Barclays : to cut up to 100 senior jobs at its investment bank

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01/17/2018 | 07:43pm CET
The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London

Britain's Barclays is axing up to 100 jobs at its investment bank, a source familiar with the matter said on Wednesday, following another set of disappointing results from the division in the third quarter.

The cuts will be split evenly between Europe and the United States and be weighted more towards roles at the director and managing director level, the source added, although Reuters' sister publication IFR reported last week that Europe would bear the brunt of the reductions.

Chief Executive Jes Staley has championed the investment bank, even amid calls from some analysts and investors to ditch a business that has in recent years struggled to match the profitability of Barclays' retail and credit card units.

He said at the bank's third-quarter results in October that Barclays would push ahead with reinvesting in the business, which he wants to be able to compete with Wall Street heavyweights, and add more products and derivatives without returning to the aggressive practices of the past.

In 2016, around 1,000 jobs were cut from Barclays' investment banking business worldwide, as it strove to reduce costs and boost revenues. Barclays cut a total of 10,000 staff that year alone.

The story was first reported by Bloomberg.

(Reporting by Emma Rumney; Editing by Silvia Aloisi and Mark Potter)

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Financials ( GBP)
Sales 2017 21 223 M
EBIT 2017 5 757 M
Net income 2017 -1 095 M
Debt 2017 -
Yield 2017 1,53%
P/E ratio 2017 -
P/E ratio 2018 14,20
Capi. / Sales 2017 1,60x
Capi. / Sales 2018 1,53x
Capitalization 34 018 M
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Barclays Technical Analysis Chart | BARC | GB0031348658 | 4-Traders
Technical analysis trends BARCLAYS
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 2,12  GBP
Spread / Average Target 6,5%
EPS Revisions
Managers
NameTitle
James Edward Staley Chief Executive Officer & Director
Jonathan P. Moulds Group Chief Operating Officer
Michael R. Harte Chief Operations & Technology Officer
Tushar Morzaria Group Finance Director & Executive Director
Reuben Jeffery Independent Non-Executive Director
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