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. Last Updated: 07/27/2016

Barclays Shake-Up

LONDON -- Barclays Banks PLC has announced a cost-cutting drive with the restructuring of its retail banking unit, shedding hundreds of jobs over 18 months and rebranding itself with a new advertising campaign.

Barclays will reduce the divisions within its retail business - which employs 60,000 staff worldwide - to two from about 20.