Barclays to cut 20,000 jobs; trading revenue down 41%

G

Grandluxe

8 May 2014 Last updated at 12:34
Barclays to cut 19,000 jobs over three years

Barclays is to cut 19,000 jobs by 2016, with about half to go in the UK, the bank has said. Barclays' investment bank has been hit by a slowdown in the demand for government and company debt.

It includes more than 2,000 investment bank jobs that will go this year around the world. Another 5,000 investment bank positions will be lost by 2016.

In the first quarter of this year, Barclay's profits fell 5%, after its investment banking business was hit by a 28% slump in revenue.

Revenue from trading in currencies, bonds and commodities dropped 41% to £1.23bn. Pretax profit at the investment bank fell to 668 million pounds in the first quarter from 1.23 billion pounds in the year-earlier period, hurt by a decline in revenue from trading bonds, currencies and commodities.

http://www.bbc.co.uk/news/business-27321589

Are we going to see even lower volumes? A lot of traders and I-bankers will be laid off.
 
Grandluxe said:
----Barclays is to cut 19,000 jobs by 2016....
----investment bank has been hit....
----Barclay's profits fell 5%....
----28% slump in revenue.
----trading in currencies, bonds and commodities dropped 41%....
More...
1) Other firms will announce similar cutbacks too. :(
2) Blame it on Obama, The Fed, ZIRP and Barclays themselves. :mad:
 
hey...they put me out of work with their HFT crap and shitty regulations from SEC, so yeah..f** you too..time for you to eat your own s** or swim in it. take your pick
 
today is a perfect example of what this "market" have become

IWM-16:00-volume 54M shares traded. by 8 pm-75M. more than 50% of the average regular trading session volume was traded G** knows where at some random prices,that are far away from the actual market. and that only ONE security out of few THOUSANDS..
i'm just curious-how far this whole thing have to go before SEC is actually try\consider to attempt straight the things up?
i mean- i understand that it could be some re balancing s***,but why it have to be done in such messy way? why not during the regular hours? EOD?
can anyone explain to me what is going on with those transactions? what's up with this "after market" volume?
 
Grandluxe said:
8 May 2014 Last updated at 12:34
Barclays to cut 19,000 jobs over three years

... A lot of traders and I-bankers will be laid off.
More...

I would not worry about traders and I-bankers losing jobs :

These people are the smartest of the smartest and I am sure they will have
plenty of other job offers. They have such wide extent of talent and skills,
that just now, I am guessing companies and human resources departments
are just polishing their job offers.
 
smallStops said:
I would not worry about traders and I-bankers losing jobs :

These people are the smartest of the smartest and I am sure they will have
plenty of other job offers. They have such wide extent of talent and skills,
that just now, I am guessing companies and human resources departments
are just polishing their job offers.
More...

Yeah, right.
 
Bob111 said:
today is a perfect example of what this "market" have become

IWM-16:00-volume 54M shares traded. by 8 pm-75M. more than 50% of the average regular trading session volume was traded G** knows where at some random prices,that are far away from the actual market. and that only ONE security out of few THOUSANDS..
i'm just curious-how far this whole thing have to go before SEC is actually try\consider to attempt straight the things up?
i mean- i understand that it could be some re balancing s***,but why it have to be done in such messy way? why not during the regular hours? EOD?
can anyone explain to me what is going on with those transactions? what's up with this "after market" volume?
More...

It is a "phantom" market. Operating in the shadows. Public markets no longer good to trade in.
 
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