Barclays Plans To Cut $1.25 Bln Costs, Up To 2,000 Jobs

British banking major Barclays Plc. is planning to cut costs by as much as 1 billion pounds or $1.25 billion over several years through various measures including up to 2,000 job cuts, Reuters reported citing people with knowledge of the matter. The planned job cuts mainly would be in the British bank's back office. The proposed move likely reflects the bank's aim to bolster its profitability.

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