Barclays planning 2,100 job cuts

Barclays is to cut at least 2,100 jobs in its investment banking and wealth management arms, the BBC has learned.

The move - which would be equivalent to about 7% of its workforce staff - came as it said it was reducing staff to match the "current market conditions".

It is understood that 1,300 jobs will go at investment arm Barclays Capital, while 500 positions will be axed at Barclays Wealth.

A further 370 jobs are set to go at Barclays Global Investors.

Earlier this month, the bank announced that about 400 jobs would go - mainly in its IT departments in Cheshire and London.

"We can confirm that we have begun a process to reduce headcount across some parts of our investment banking and investment management units to ensure that we are appropriately sized given the current market conditions," a spokesman said, without confirming numbers.

"We will continue to hire selectively across those parts of the business that are growing."