BARCLAYS BANK (ABSA INCLUDED) MAY CLOSE 45 000 JOBS?
Barclays PLC Chief Executive Jes Staley has decided to exit the bank’s operations in Africa, the Financial Times said on Friday, citing sources familiar with the matter.
The UK Headquartered bank’s CEO is planning to announce on 1st March that the British bank has decided to exit its African operations in a move to refocus the bank on its core UK and US markets.
After a review of the African business led by Jes Staley, the bank’s board decided that in principle it made strategic sense to get out of the continent due to the slowing down South Africa economy which has been caused majorly by the devaluation of the South African Rand against the British pound.
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