Barclays to cut up to 12,000 jobs
Barclays plans to cut between 10,000 and 12,000 jobs this year, including 7,000 in the UK, the BBC reports.
The bank, which has 140,000 staff in total, said it had already told about half of the staff affected.
The cuts came as Barclays said it had increased the total amount it paid on staff bonuses last year.
The bank's total bonus pool for 2013 rose by 10% to £2.38bn, from £2.17bn in 2012, with the investment bank's bonus pool increasing by 13%.
'We have to be competitive on pay and we have to pay for performance," chief executive Antony Jenkins - who has waived his own annual bonus - told the BBC.
"We operate in many countries around the world… we compete for talent in global markets."
Barclays said the job cuts would hit 820 senior manager roles, of which 220 were managing directors and 600 directors. About 400 of the senior job cuts are from the investment bank.
Barclays said it was hopeful it could achieve the majority of the cuts voluntarily.
The fresh job cuts come after the bank cut 7,650 roles last year.
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