Barclays retrenches, returns to retail base

Barclays is returning to its roots in retail banking and reducing investment-banking activity. The bank plans to eliminate 19,000 jobs during the next three years; 7,000 are at the investment bank. "We will refocus and resize our investment bank to bring balance to Barclays," CEO Antony Jenkins said. "As currently constituted, it is an unacceptable drag."

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