Barclays, like other major banks, made headlines for job cuts last year. While initial reports hinted at reductions in various departments, it was recently revealed by Sky that Barclays actually cut a staggering 5,000 employees in 2023.
![Barclays slashes 5,000 jobs while Jefferies trims compensation for managing directors. PHOTO: ALP/Shutterstock](https://krugmaninsights.com/wp-content/uploads/2024/01/BARCLAYS.webp)
This represents nearly 6% of their workforce of 84,000 at the end of 2022, placing them among the top banks for job cuts.
The banking sector as a whole saw a total of 60,000 job cuts last year, with UBS/Credit Suisse