LONDON, July 30 Barclays has cut just
under 5,000 staff this year as part of its plan to streamline
the bank and axe areas that are unprofitable, leaving the bank
with fewer staff than at any time since 2007.
Tushar Morzaria, finance director, said on a conference call
after its second quarter results that the bank was on track with
plans to cut 14,000 staff this year, including about 2,500 in
the investment bank.
Barclays said on Wednesday its underlying profits fell 8
percent in the second quarter after a drop in investment bank
revenue as it attempts to streamline the business.
(Reporting by Steve Slater; Editing by Matt Scuffham)