Barclays (BARC) To Lay Off Thousands In Massive Overhaul Of Giant Investment Bank: Report

Barclays PLC (LON:BARC), the world's seventh-largest bank by assets, will lay off thousands of staff as it overhauls the iconic but troubled financial institution, the Financial Times reported Thursday. The London-based bank has drawn investor ire with its rising costs, partly through bigger executive bonuses, amid falling profits; shares have fallen 20 percent since mid-January.