Barclays is reportedly planning to cut an additional 20 % of the bank staff , with most of the losses expected in the Asia securities division which has operations in markets including Japan , Hong Kong and Singapore , and the global cash equities business . According to the unnamed source , this latest round of cuts would be on top of an existing programme to axe 7,000 jobs at the investment bank during 2016 . Standard Chartered, which makes almost all of its profit in Asia, said in November it would cut 15,000 jobs to help save $2.9 billion by 2018. Chief Executive , Jes Staley , who took over on 1st December , has been tasked with improving profitability at the investment bank which has been hit by rising costs tied to past misconduct and tougher regulatory requirements . A bank spokesman said the bank is " constantly monitoring our opportunities in different geographies and businesses " .
Barclays is reportedly planning to cut an additional 20 % of the bank staff , with most of the losses expected in the Asia securities division which has operations in markets including Japan , Hong Kong and Singapore , and the global cash equities business . According to the unnamed source , this latest round of cuts would be on top of an existing programme to axe 7,000 jobs at the investment bank during 2016 . Chief Executive , Jes Staley , who took over on 1st December , has been tasked with improving profitability at the investment bank which has been hit by rising costs tied to past misconduct and tougher regulatory requirements . A bank spokesman said the bank is " constantly monitoring our opportunities in different geographies and businesses " .