- Bloomberg
Banks Sell Loans to Private Credit in Balance Sheet Twist
(Bloomberg) -- For years, Barclays Plc struggled with what to do about its US credit-card business. It was a cash generator, cranking out a steady stream of revenue, and yet it was costly to run because of the way regulators force banks to set aside capital as a buffer against losses.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesThe Ozemp
- Reuters
Barclays moves to cut 'a few hundred' investment bank underperformers
Barclays has kicked off a fresh round of redundancies, cutting "a few hundred roles" at its investment bank as it ramps up efforts to tackle underperformers and reinvest in new talent, sources with direct knowledge of the matter told Reuters. Staff impacted are based in the bank's global markets, investment banking and research division, the source added. Bloomberg earlier reported that Barclays had begun making the cuts.
- Bloomberg
Barclays Begins Implementing Job Cuts Across Investment Bank
(Bloomberg) -- Barclays Plc has begun cutting hundreds of jobs as the firm embarks on a £2 billion cost-cutting drive that’s part of Chief Executive Officer C.S. Venkatakrishnan’s yearslong plan to boost returns.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesFed to Signal Delay of Interest-Rate CutsThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire EconomyLilly Soars as Forecast
