Barclays Plc plans to cut more than 30,000 jobs within two years after firing Chief Executive Antony Jenkins this month, The Times reported.
The surprise move comes weeks after John McFarlane took over as chairman of the bank and signalled his intention to speed up its turnaround plan. McFarlane is to take over executive duties until a permanent successor is appointed.
Michael Rake has ruled himself out of the running for the chairmanship of Barclays Plc , a role he had been favourite to assume, raising fresh questions on the leadership of the bank as it struggles to recover from the Libor scandal.
Michael Rake, deputy chairman of Barclays Plc, has ruled himself out of contention to be its new chairman, striking a blow to the UK bank as it hunts for new leadership to steer it through its interest rate-rigging scandal.
Top Barclays Plc shareholders fear that regulators will rush through the appointment of a new chief of the scandal-struck bank and not take the time to search for an outsider to bring about a root-and-branch culture change.