LONDON, Jan 30 (Reuters) - Barclays is cutting 400jobs from its corporate banking division as part of a newcost-cutting drive by its Chief Executive Antony Jenkins.
Barclays said about 300 jobs would go in its back office andabout 100 jobs would go as it combines its product and frontoffice teams. "As part of the ongoing transformation ofBarclays, the shape of corporate banking will also need tochange, as we react to advances in technology and simplify thebusiness to better serve our clients," a spokesman said.
Unite the union said a further 120 roles in Barclays'corporate division were being placed "at risk" during 2014. Aspokesman declined to comment on that figure.
The cuts will add to about 400 jobs being cut in Barclays'investment bank this week, people familiar with the matter havesaid.