Barclays to cut 2,000 jobs
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 24 November 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Show links:
Biggest stock movers today: iRobot, Fisker and more
Sports betting records could be carved up Thanksgiving weekend - watch these stocks
Best stocks for when the 10-year Treasury is falling
October global smartphone sales break two-year losing streak
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Black Friday and the last Friday of this trading month, November 24th. |
| 0:14.0 | I'm Julie Morgan. |
| 0:16.0 | Barclays is cutting jobs. |
| 0:18.0 | Amazon workers are protesting and AbbVie is suing. |
| 0:22.0 | British Bank Barclays is anticipating Abbie is suing. |
| 0:22.5 | British Bank Barclays is anticipating significant job cuts which could involve cutting as many |
| 0:28.1 | as 2,000 jobs. |
| 0:30.1 | According to a Reuters report this would be in an effort to reduce costs by 1 billion pounds or 1.25 billion dollars. |
| 0:38.0 | The decision is a result of the bank's recent financial performance with staff costs reaching 2 billion pounds. |
| 0:44.8 | Barclay CEO has said that the bank is planning to cut expenses by a total of a billion |
| 0:50.0 | pounds in the coming days, which would account for approximately 7% of its underlying annual operating expenses of 15 billion pounds in 2022. |
| 1:00.6 | The impact of the cuts will be greatest on the employees working in Barclay's execution services known as BX. |
| 1:08.0 | According to the report, Barclay is trying to cut down on long-term retail and investment expenses. |
| 1:14.0 | For this, the option of layoff is also being adopted. |
| 1:17.5 | Along with this, the bank has also cut bonuses for employees. |
| 1:21.5 | The discussions regarding employee numbers at the BX division are still |
| 1:25.9 | ongoing and a source says Barclays may choose to focus on job cuts in other departments. Amazon workers are protesting over low pay and unfavorable working conditions at warehouses and distribution centers throughout Europe. The protest was planned to happen at the same time as Amazon's Black Friday |
| 1:45.4 | sale, the retailer's day of big discounts. The protest aimed to disturb Amazon's warehouse |
| 1:51.1 | functions and prevent goods from reaching its parcel lockers on one of its busiest days. |
| 1:56.6 | These protests will last through Cyber Monday another significant sales day. |
| 2:01.2 | In a statement a German trade union called on its |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.