Barclays bank to axe 1,000 jobs

British bank Barclays on Wednesday announced plans to axe around 1,000 jobs with the closure of its financial planning division, sparking anger from trade union Unite. "Barclays has been conducting a detailed review of its financial planning advice over recent months," the bank said in a statement.
"This review has concluded that, given the changes to the retail investment marketplace, it is unlikely that this business would be able to deliver a return that would justify the investment required. "As a result of this, Barclays has entered into consultation with employees who support Barclays Financial Planning (BFP), the division of Barclays that offers face-to-face financial planning services to retail customers."