BarCap plans to eliminate hundreds of jobs, a source says

08/11/2010 | Reuters

Barclays' investment-banking division, Barclays Capital, is poised to cut its staff by several hundred positions, a source said. Back-office support functions will be hit hardest by the reduction, which could be announced as soon as today. Barclays is responding to a 15% drop in investment-banking revenues.

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