Barclays, U.K. based bank is going to merge the teams for servicing corporate clients in India of commercial banking division and its investment banking unit- Barclays Capital, and because of the merger Barclays has to cut jobs in India.
The Hong-Kong based spokeswoman for Barclays, Ms. Clare Williams said "Last week a small number were informed that as a result of the decision to combine the two teams that, regrettably, their jobs fell away."
The bank has already made 25 job cuts and another 25 are expected to follow in a few months.
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