Barclays said in midst of hiring freeze

Now hiring - not

To be reviewed at the start of January.

Reuters reports that Barclays has put a freeze on hiring new staff until the start of next year as it steps up efforts to cut costs and raise profitability.

A bank spokesman said the hiring freeze had been in place since late September and was due to be reviewed at the start of January.

Across Europe, investment banks are retrenching and cutting costs as they lose share to U.S. rivals that acted more quickly after the global financial crisis to regain profitability.

John McFarlane has increased the focus on costs after taking over as Barclays chairman in April. The bank's incoming CEO Jes Staley, who starts in December, is also expected to try to find more savings.

Hit the link below to access the complete Reuters article:

Barclays freezes staff hiring until January to cut costs

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