Barclays confirm up to 7,000 UK jobs to go

PA/AOL Money
£5.2BN profit for Barclays banks
£5.2BN profit for Barclays banks

Barclays defied calls for pay restraint today as it announced a 10% hike in its staff bonus pool to £2.4 billion while confirming plans to cut up to 12,000 jobs this year.

The group said around 7,000 jobs would go in the UK - including some branch-based roles - under plans to slash costs across the group, adding that around half of the affected employees had already been informed.