Barclays Intends to Cut About 100 Senior Jobs at the Investment Bank

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Barclays PLC intends to relieve about 100 senior jobs across its corporate and investment banks. The trimming exercise has begun in London as managing director and director positions are being affected. In London, a spokeswoman with the bank has declined to comment on planned retrenchment which happens to be first in 2020.

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Meanwhile, Jonathan Kitei, Tim Johnston, and Anindya Das Gupta are leaving the bank as part of the ongoing exercise. The above-named officers hold a position like the head of securitized product sales for America, head of EMEA cash high-touch trading and sales, and head of treasury in India respectively. The affected senior officers declined to talk to the press. In the same vein, about three thousand jobs were cut in the second quarter of last year.

It was also reported that the bank’s reports of its full-year were released in February. The Chief Executive Officer Jes Staley focused on reducing bank’s high expenditure so as to reach its profitability targets. Meanwhile, the corporate and investment bank excels over Wall Street peers in the third quarter, as revenue from fixed-income and equities trading advanced. Nonetheless, Jes Staley said in October that the stance for next year is undeniably more demanding now than it appeared a year ago.

BarClays

LSE : BARC – Daily Chart

Barclays Faces Stiff Resistance at 190, Selling Pressure May Continue
Barclays (LSE: BARC)
Resistance levels: 500, 520, 540
Support levels: 140, 135, 130

At the moment, Barclay’s stock price is on a downward move after reaching a high of 190. The stock was earlier in a bull market at a low of 135 in August 2019. For the past six months, the stock has been in an upward movement. The bulls only face resistance at the 160 and 170 but move on to reach a high of 190. The price was resisted and the stock fell to a low of 180. The bulls make a retest at $185 but were resisted. The selling pressure resumes as the stock fell and broke below the moving average and the trend line.

As the stock price breaks below the trend line and closes, the selling pressure is likely to continue. A downward move to a low of 160 is expected. The market is below 20% range of the daily stochastic indicating that price is in a strong bearish momentum. Besides, the market is in the oversold region of the daily stochastic. Buyers are likely to emerge. The Relative Strength Index period 14 level 40 is below the centerline 50. This indicates that the stock is likely to fall.

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