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In May 2014, Barclays announced it would cut 19,000 jobs over three years with 12,000 jobs cut in 2014. Investment banking will cut 2,000 jobs in 2014 and up to 7,000 jobs totally in 2016 making the investment banking portion shrink from 50 per cent in 2014 to 30 per cent of Barclays assets in 2016.