Major Cuts Planned at Barclays, Report

FBN’s Charlie Gasparino reports that, “There will be major cuts at Barclays (BCS) before the end of the year. They’re talking about cuts maybe next year too.” Gasparino reports that “there is a major bloodletting and people are getting let go” inside the commodities futures unit in Chicago.  Excerpts from the report ; courtesy of Fox Business Network.

On Barclays Bank cutting jobs:
“There will be major cuts at Barclays before the end of the year. They’re talking about cuts maybe next year too. Dodd Frank is slowing business conditions and Barclays is getting hammered. A source inside the commodities futures unit tells FOX Business Network that in that one unit in Chicago there is a major bloodletting and people are getting let go.”