Barclays is to shut its Indian equities desk as part of its ongoing efforts to cut costs and boost employment , according to reports . it is midway through a three - year cost - reduction plan for cutting 19,000 jobs ; in November , the bank also put a freeze on hiring until the beginning of 2016 . It is also considering the sale of its Asian private wealth business , with DBS Holdings and Julius Baer as potential bidders . This latest announcement follows a report last week that Societe plc was shutting down its equities research desk in India as part of an internal reorganisation .
Barclays is to shut its Indian equities business as part of its ongoing efforts to cut costs and boost profit, according to reports. Barclays is midway through a three-year cost-reduction plan involving cutting 19,000 jobs; in November, the bank also put a freeze on hiring until the beginning of 2016. It is also considering the sale of its Asian private wealth business, with DBS Holdings and Julius Baer as potential bidders. This latest news follows a report last week that Societe Generale was shutting down its equities research desk in India as part of an internal reorganisation.