Barclays consults on job cuts at UK investment bank

Barclays has launched a consultation with employees in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, it said on Tuesday.

Jenkins, who took over in August, is revamping Barclays following the exit of Bob Diamond when the bank was fined for rigging Libor interest rates.

Recent media reports have said Barclays is expected to cut around 2,000 investment bank jobs as part of a restructuring to be unveiled on February 12.

Banks around the world are axing jobs as they get to grips with high costs and tougher rules that have made them less profitable than in the past.

(Reporting by Matt Scuffham; Editing by Steve Slater)