The thousand new jobs will be in Barclays’ British operation and the same number are expected to be taken on by 2020 Oli Scarff / Getty ImagesBarclays is to go against the tide of the big banks’ job cutting after announcing that it would hire 1,000 staff on the back of first-quarter pre-tax profits that doubled as the cost of dealing with its toxic loans continued to fall. The jobs will be created in the UK this year and Barclays said it would be hiring the same number again by 2020 as profits grow. Pre-tax profits hit £1.7 billion in the first three months of the year, a 112 per cent year-on- year rise, largely driven by a nearly £600 million drop in losses from the bank’s non-core division, which is responsible for cleaning up the lender’s legacy bad debts. The results are the first since Barclays revealed this month that…

Source: The Times April 28, 2017 07:52 UTC