An overhaul of Barclays is to set to result in the shedding of 7,000 jobs in the investment part of the bank by 2016.
There will be 14,000 jobs cut this year as the bank makes major changes including establishing a 'bad bank' to sell or run down non-core operations.
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The bank said it has "repositioned, simplified and rebalanced" its business.
The wealth and investment business will remain part of the core Barclays international bank.
Chief executive Antony Jenkins called it a "bold simplification of Barclays".