Barclays axes 2,100 on another black day for jobs

Barclays Bank announced 2,100 job cuts in investment banking and wealth management last night, at the end of another miserable day for the jobs market.

Britain's third-biggest bank will slash 1,300 jobs worldwide at Barclays Capital investment, 500 at Barclays Wealth and 330 at Barclays Global Investors. The cuts represent 7 per cent of the investment banking and investment management workforce. The bank declined to say how many of the jobs to be cut were in the UK.

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Barclays cut more than 400 IT support staff last week.

Merrill Lynch in London also axed 1,900 jobs yesterday and the Sheffield roofing materials group SIG cut 1,000.