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Barclays to cut 2,100 jobs worldwide

  • Story Highlights
  • Barclays says it is cutting about 2,100 jobs in Barclays Wealth and UK banking
  • Similar number of redundancies announced Tuesday for investment banking sector
  • Company absorbed U.S. operations of collapsed investment bank Lehmans
  • Union says 500 of the job losses will be in Britain
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LONDON, England (CNN) -- Barclays says it will cut 2,100 jobs from its UK retail and commercial banking businesses and Barclays Wealth, which is likely to take job cuts at the bank past 4,000 this week.

Barclays have not said exactly how many job losses there will be.

Barclays have not said exactly how many job losses there will be.

The cuts announced Wednesday come just 24 hours after a similar number of job losses were made public.

The company, which swallowed up the U.S. operations of collapsed investment bank Lehman Brothers last year and some of its European staff, confirmed to CNN it had "begun a consultation process to reduce headcount."

The Tuesday cuts will be from the investment banking and investment management units and are expected to also number around 2,100 although that has not been officially confirmed.

The company says the consultation process was ongoing.

The bank will continue to hire in areas such as equities, a spokesman said.

General workers' union Unite said 500 of the jobs would be lost in Britain, accusing Barclays of instigating "death by a thousand cuts".

The union accused the bank of failing to keep workers informed about future employment levels.

Deputy general secretary Graham Goddard told the Press Association: "This latest announcement of a further 500 job losses is the latest in a string of announcements by Barclays over the last few weeks.

"We have stressed to the bank that they should come clean with their staff in order to reassure them that they will not be the next victim of the bank's strategy of death by a thousand cuts."

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