According to a report by The Times, the redundancy programme could see Barclays’ workforce fall below 100,000 by the end of 2017.
The bank wants to focus on the automation of manual processes within the retail bank with the largest number of job cuts expected in its middle and back office operations, it was said.
In recent months the bank has been hit with record fines for forex rigging and PPI.
Barclays claimed the sacking of Jenkins was down to the requirement for a leader with a ‘new set of skills’ to take the business forward.
Jenkins took over from Bob Diamond in August 2012 after heading up the retail business banking unit.
On his appointment to the role, then chairman Marcus Agius said one of the reasons Jenkins was chosen to helm the group was down to his role in the development of the bank’s strategy and his future vision for Barclays which he had planned to realise quickly.
