Barclays cuts 3,700 jobs amid bank reforms

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Barclays has said it will cut 3,700 jobs following a strategic review, as it aims to reduce costs by £1.7bn,

Almost half of those job losses will come at its investment bank.

The bank announced a pre-tax profit of £7.5bn, but after setting aside aside compensation for mis-sold products and a loss on the value of its own debt that figure plunged to £246m.

Hugh Pym reports.

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