Barclays has cut down some jobs in its operational unit in India, Reuters reports. The move comes as Barclays Capital, the investment banking unit of the U.K.-based bank, and the firm’s commercial banking division are merging the teams that focus on corporate clients in India.
The bank, which has laid-off 25 employees until now, plans to cut another 25 jobs in India. As part of the move, Karan Bhagat, managing director and country head for Barclays Corporate, will leave the firm, while Jaideep Khanna, managing director and head of investment banking, will head the new merged team.
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