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Barclays Posts Sharp Fall In Profits, Warns Of Jobs Cuts

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http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8676483/Barclays-posts-sharp-fall-in-profits-warns-of-jobs-cuts.html

Barclays reported a 33pc fall in first-half profits and warned it could cut around 3,000 jobs this year to reduce costs.

Profits dropped to £2.64bn pre-tax in the six months to June 30, compared with £3.95bn in the same period last year. However, this was better than market expectations of £2.4bn.

........

Mr Diamond said in a conference call that the bank had cut 1,400 jobs during the first half. He said that although Barclays did not have a precise overall job cuts figure in mind, the first-half trend was likely to accelerate in the second half.

"You should assume this trend to continue and increase somewhat," he said. Bank costs are rising as a result of increase regulation following the financial crisis.

More good news for the jobless recovery.

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More good news for the jobless recovery.

Still, I assume that this sharp reduction in profits means they they will be very restrained in bonus payouts.

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Still, I assume that this sharp reduction in profits means they they will be very restrained in bonus payouts.

More like tax payouts....who is it that pays for ppi miss-selling? :unsure:

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Still, I assume that this sharp reduction in profits means they they will be very restrained in bonus payouts.

Sharp reduction in profits...they still made profit. The capitalist system has gone haywire.

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Sharp reduction in profits...they still made profit. The capitalist system has gone haywire.

But the system we've got is that you always have to make a bigger profit than last year to show how brilliant you are at running the company.

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So they are still in profit and around 60% at that?

.....and the drama is?

Nothing. It beat forecasts by a fair bit. It's the best performing stock on the FTSE today up over 4%

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Nothing. It beat forecasts by a fair bit. It's the best performing stock on the FTSE today up over 4%

£2.64bn pre-tax profit..

£3.96bn post-tax profit.. (nb. Made up)

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  • 330 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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