Last weekend there was word that Bob Diamond, Barclays’ incoming CEO, was personally scrutinising each of the bank’s businesses to see if they provided an adequate return on capital. At the same time, there were conflicting rumours about staffing levels at Barclays Capital. The firm is still hiring in Canada and Asia but London appears to be undergoing some down-sizing (in the vernacular) over the next couple of months. There’s no good time to make staff redundant but you have to feel for those under threat a few weeks before Christmas.
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