Barclays to cut 70 branches across Italy

As part of the cost cutting plan announced at global level, Barclays is set to cut 70 branches across Italy, which will result in about 230 redundancies.

According to the local press, in Italy Barclays will focus on premier activity and it will also reduce its presence in non-core geographic areas.

Antony Jenkins, the new chief executive of Barclays, confirmed last week a strategic overhaul for the UK bank which will include cutting 3,700 jobs.

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