Barclays Begins Implementing Job Cuts Across Investment Bank

Barclays Plc has begun cutting hundreds of jobs as the firm embarks on a £2 billion cost-cutting drive that’s part of Chief Executive Officer C.S. Venkatakrishnan’s yearslong plan to boost returns.

Several hundred staffers in global markets, investment banking and research will be impacted by the cuts, according to people familiar with the matter. The cuts began on Wednesday, the people said, asking not to be identified discussing personnel information.

The latest dismissals confirm an earlier Bloomberg report that Barclays was preparing to cut several hundred jobs within its investment bank division, which includes trading, advisory, capital markets as ...