Chancellor describes Barclays job losses as 'regrettable'
8 May 2014 Last updated at 14:20 BST
The Chancellor George Osborne says it is "regrettable" that Barclays is cutting 7,000 jobs in the UK.
It is part of a major overhaul, largely in its investment business, that will see 19,000 jobs being lost around the world.
Management says the move is necessary to "rebalance" the operation after the banking crisis.