Barclays to shed 275 New York staff

Barclays Capital says it plans to lay off 275 employees at three offices in New York.

The investment bank disclosed the plans to the Department of Labour, which posted the details on its website.

Barclays says the layoffs will take place during a 14-day period beginning May 15.

The company listed economic factors as the reason for the layoffs.

The federal Worker Adjustment and Retraining Notification Act requires companies with 100 workers or more to provide notice 60 days in advance of a plant closing or mass redundancies.

Barclays Capital is the investment banking division of Barclays PLC.

In October, Barclays PLC reported a net loss of £200m for the third quarter.