Barclays bank cut 5,000 jobs in cost-saving drive

Barclays bank has confirmed it cut thousands of jobs around the world in a huge cost-cutting exercise. A Barclays spokesperson said the bank was supporting affected employees with training and advice, depending where staff were based. Barclays said the cuts were part of its plans to improve profitability, which it said were announced in its third-quarter results in October last year. The total number of cuts is much higher than the 900 UK jobs previously reported. The bank reported pre-tax profits for the three months to September of £1.9bn, slightly better than analysts' forecasts, but down from £2bn a year ago.

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