The biggest casualties were in sales, where around 50 people have gone and in Asia, where 80 jobs have been lost. The job losses at Barclays came as Dresdner Kleinwort Benson started cutting back on staff in the wake of the surprise third-quarter losses unveiled on Monday. Several research analysts have gone, including the highly rated pharmaceuticals analyst Steve Puttnam. Up to 100 jobs are feared to be at risk in the next few weeks.
Merrill Lynch, which is eliminating 400 City jobs, is losing eight analysts, including highly rated leisure analyst Roy Owens. Merrill has also disbanded its three-strong UK-based mining corporate advisory team, although the firm insists clients will continue to be served by a specialist industry group in New York and local relationship managers in Europe.Reuse content