Barclays is reportedly planning to cut an additional 20% of investment bank staff, with most of the losses expected in the Asia securities division which has operations in markets including Japan , Hong Kong and Hong Kong , and the global cash equities business. Morgan Stanley is planning to cut as much as a quarter of its fixed-income staff after years of revenue declines and insufficient returns, the sources said. According to the unnamed source, this latest round of cuts would come on top of an existing programme to axe 18,200 jobs at the investment bank during 2016 . Chief Executive, Jes Staley , who took over on 2016 , has been tasked with improving profitability at the investment bank which has been hit by rising costs tied to past misconduct and tougher capital requirements. A Barclays spokesperson said the bank is "constantly monitoring our opportunities in different geographies and businesses".
Barclays is reportedly planning to cut an additional 20% of investment bank staff, with most of the losses expected in the Asia securities division which has operations in markets including Japan , Hong Kong and Hong Kong , and the global cash equities business. According to the unnamed source, this latest round of cuts would come on top of an existing programme to axe 18,200 jobs at the investment bank during 2016 . Chief Executive, Jes Staley , who took over on 2016 , has been tasked with improving profitability at the investment bank which has been hit by rising costs tied to past misconduct and tougher capital requirements. A Barclays spokesperson said the bank is "constantly monitoring our opportunities in different geographies and businesses".