BarCap to make 200 redundancies
Barclays Capital is making approximately 200 employees redundant at its London headquarters, according to Risk News sources.
The news comes in the wake of last month’s pre-close briefing by BarCap parent company Barclays, in which the bank reported a flat net revenue in the nine months to September 30 2002 versus the corresponding period one year earlier.
BarCap’s flat net revenue – attributed to turbulence in its target corporate market – was to some extent offset by income performance. Fees and commissions grew during the period, while costs remained even, Barclays added.
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