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Barclays Is Cutting Up to 100 Senior Investment Bank Staff

(Bloomberg) Barclays Plc is eliminating as many as 100 senior staff at its investment bank as the unit’s chief, Tim Throsby, overhauls the underperforming division, according to people familiar with the decision.The cutbacks will fall mainly at the managing director and director levels and are evenly split between Europe and the U.S., said the people, who asked not to be identified because the process hasn’t been finalized. Employees in the banking division, which raises debt and advises companies on mergers and strategy, are being informed this week, with reductions to the markets side of the unit, which houses fixed-income and equity traders, to start next week, they said.

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