LONDON, Jan 30 (Reuters) - Barclays is cutting 400jobs from its corporate banking division, adding to the similarnumber of people axed by its investment bank this week as ChiefExecutive Antony Jenkins wields a cost-cutting knife.
The bank cut 3,700 jobs last year as part of a plan to cutannual costs by 1.7 billion pounds ($2.80 billion) and improveprofitability, and more could come in other parts of the bankahead of results on Feb. 11 as the CEO searches for savings.
Barclays Corporate said on Thursday about 300 jobs would goin its back office and about 100 jobs would go as it combinesits product and front office teams.
"As part of the ongoing transformation of Barclays, theshape of corporate banking will also need to change, as we reactto advances in technology and simplify the business to betterserve our clients," a spokesman said.
Most of the jobs going are in London and should come fromvoluntary redundancy or natural turnover, he 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.
Barclays is cutting about 400 jobs in its investment bankand staff are being told this week, people familiar with thematter have said.
James Groves, its head of Asia commodities, and Jim Vore,head of credit sales in the region, are among some high-profiledepartures in Asia, two sources familiar with the matter said.
Jenkins has pledged a fresh course for the bank, in anattempt to restore its reputation following a series ofscandals.
He has also made clear that the need for more efficiency, improving technology and changing customer behaviour meantthousands of jobs and hundreds of branches are likely to be axedover the long-term.
"The banking industry is going through what I like to call a100-year transformation," Jenkins said last week in Davos.