Barclays Cuts 31 Traders In London Deemed A "Review Of Staff Mix"

BANKS

The shakeup continues at Barclays Bank's London desk in the wake of the progressive merger of its treasury group with that of Barclays de Zoete Wedd's capital markets group over the past year (FX Week, August 3). Barclays officials have confirmed that some 31 foreign exchange and money markets traders were laid off at the end of last month.

According to a bank spokesman, a "review of manpower requirements and of the mix of personnel" led to its decision to shed 23 money markets division deal