Barclays closes its departments

The largest bank in the UK is intended to start reducing its staff already in the beginning of 2016. Barclays is planning to cut up to 20% of the positions, mostly in the Asian region, since that particular branch brings the least profit to the bank.

According to the financial performance of Barclays, at present the level of the bank's income is far from the desired results. The bank has sold 89 branches in Italy in order to reduce the risk of losses. Earlier Barclays was also fined $109 million for performing some doubtful transactions for several major clients.

The common negative sentiment has had an immediate impact on Barclays shares, which value has decreased by 2.17%. Traders have a great chance to earn money on a further fall. Trading will be available during the European session from 7:00 to 15:30 GMT time.

The news is only for informational purposes and cannot be construed as an offer or indication of the commission of certain transactions in the financial and commodity markets.