Barclays Largely Spared Asia From Global Job Cuts, CEO Says

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Barclays reported disappointing third-quarter earnings last month that prompted a fresh slide in the bank’s share price. Photo: Bloomberg

(Bloomberg) — Barclays Plc’s chief executive officer plans to spare its Asia business from the bulk of job cuts as the British bank embarks on a reduction in its global workforce.

“It is a reduction in workforce generally speaking,” CEO C.S. Venkatakrishnan said in a Bloomberg TV interview Thursday in Singapore. “Proportionally, it is far less likely to impact” Asia, he added, citing the growing businesses there.