Barclays Cuts 50 Senior Dealmakers in Annual Staff Reduction

Barclays Plc is planning to reduce its workforce in the investment bank as part of its annual staff reduction.

The bank is expected to cut approximately 50 senior dealmakers, representing around 3% of the total headcount in the corporate and investment bank, which includes trading operations.

The decision to downsize comes as Barclays and other financial institutions have been facing a prolonged slump in dealmaking and capital markets activity.