Barclays Plc Chief Executive Officer C.S. Venkatakrishnan said the company’s workforce plans are in-line with the broader financial industry after Bloomberg reported last week that the bank was planning to cut hundreds of jobs.
(Bloomberg) — Barclays Plc Chief Executive Officer C.S. Venkatakrishnan said the company’s workforce plans are in-line with the broader financial industry after Bloomberg reported last week that the bank was planning to cut hundreds of jobs.
“We always continually modulate and modify that work force,” Venkatakrishnan said Monday in an interview with CNBC. “What you see at Barclays is no different than what you see anywhere else.”
Barclays is planning to dismiss about 5% of client-facing staff in the trading division as well as some dealmakers globally as part of the cuts, Bloomberg reported last week, citing people familiar with the matter.
Venkatakrishnan said the bank is undergoing a generational shift, and departures of top bankers are a natural result of that overhaul. He said that the bank is still hiring amid departures.
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