Barclays to cut 12,000 jobs, pays bigger bonuses

Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Stepping up efforts to cut costs, Barclays said up to 9 percent of employees could …

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Barclays to cut 12,000 jobs, pays bigger bonuses