Barclays could axe up to 2,000 jobs in £1bn cost-cutting drive

Shake-up expected to affect mainly back office roles in departments such as compliance, HR and legal

Barclays is reportedly working on plans to cut up to 2,000 jobs in a £1bn cost-cutting drive, weeks after the bank’s bosses warned of the need to restructure to boost profits and dividend payments to shareholders.

The shake-up is expected to affect mainly back office jobs in departments such as compliance, human resources and legal, according to a source cited by Reuters.