LONDON Feb 12 Barclays is to axe at
least 3,700 jobs and prune parts of its investment bank as its
new boss put his stamp on the British bank with a plan to cut
1.7 billion pounds ($2.7 billion) in annual costs and improve
Barclays Chief Executive Antony Jenkins said on Tuesday the
job cuts will include 1,800 in corporate and investment banking
and 1,900 in its European retail and business banking.
Jenkins' unveiled his strategic plan alongside annual
results. Barclays reported a 2012 pretax profit of 246 million
pounds, almost wiping out a 5.9 billion profit in 2011 due to
charges for compensating customers mis-sold products and a loss
on the value of its own debt. The bank said its adjusted pretax
profit for 2012 was 7.05 billion, up 26 percent on the year and
in line with the average analyst forecast.