Jobs Cuts at Barclays Singapore?

Barclays,Trimming Headcount

Barclays,Trimming Headcount

U.K. bank Barclays is said to be trimming Technology positions in Singapore.

Under the leadership of Jes Staley, Barclays Group CEO, in an effort to cut costs, the troubled bank has been accelerating the rundown of Barclays «Non-Core» units.

News provider «Bloomberg» reports that up to 100 positions could be lost in Singapore. The roles would either be moved to India or cut.

On a Fervent Drive

The London headquartered bank has been on a fervent drive to dispose of assets acquired and developed during the tenure of previous CEO Bob Diamond. Among recent disposals and market exits Barclays sold a bullion facility to Chinese ICBC Standard Bank.  

Earlier this year their Asian wealth units in Hong Kong and Singapore were acquired by OCBC's wholly-owned private banking subsidiary, Bank of Singapore, for approximately $320 million in cash.

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