BARCLAYS signalled that its cost-cutting drive will continue as it posted a 5% rise in under-lying third-quarter profits despite a sharp fall in income and earnings at its investment bank.
BARCLAYS signalled that its cost-cutting drive will continue as it posted a 5% rise in under-lying third-quarter profits despite a sharp fall in income and earnings at its investment bank.
CHALLENGING: Barclays has so far cut 3500 jobs this year. Chief executive Bob Diamond, below, has warned to expect more of the same. Picture: Julie Howden
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TIM SHARP CITY EDITOR
The bank revealed that it has cut 3500 jobs in 2011 so far, ahead of the 3000 that in August it suggested it had earmarked for the year.
Pre-tax profit in the three months to the end of September reached £2.4 billion. Stripping out one-off items, earnings were £1.3bn, up 5% on the same period of 2010.
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