12:43 PM EDT, 05/10/2024 (MT Newswires) -- Barclays ( JJCTF ) is eliminating eight jobs in its energy transition and sustainable banking teams, part of a broader cost-cutting drive that aims to improve returns, Bloomberg reported Friday, citing people familiar with the matter.

Six people from the energy transition team of more than 100 bankers are affected, and two belong to the sustainable banking group, the report said.

A Barclays ( JJCTF ) spokeswoman told the news agency that the job cuts are part of broader decisions made across other groups and do not reflect the performance of its sustainable finance franchise.

Barclays ( JJCTF ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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