Barclays Cut 3,000 Jobs in Recent Months, Joining European Peers

Barclays Plc Chief Executive Officer Jes Staley said the bank cut 3,000 jobs in the second quarter as the firm sought to keep a tight grip on expenses and counter criticism over its ability to reach profitability targets.

The London-based bank joined other European lenders who have been eliminating roles in recent months, including HSBC Holdings Plc and Societe Generale SA. Barclays Finance Director Tushar Morzaria told journalists on a call Aug. 1 that the cuts were “not concentrated in a particular area, but across the board,” and in divisions that weren’t generating returns.

The bank’s shares rose as much ...