Barclays will cut 19,000 jobs over the next three years and set up a "bad bank" as part of a far-reaching strategic review to reduce costs and revitalise its investment bank.
The bank has raised its expected job cuts this year to 14,000, from 12,000 announced in February.
The extra 2,000 jobs will be lost in the investment bank. By the end on 2016 it plans to cut 7,000 jobs at the investment bank.
The bank said £115bn of risk-weighted assets would go into the bad bank, including £90bn of investment bank assets and all of its European retail banking operations, amounting to £16bn of assets.
Half of the jobs cuts will be in the UK.
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