Barclays said Tuesday it is cutting 2,100 jobs in its wealth management, asset management and investment banking groups.

The cuts amount to roughly 7% of all professionals employed in the three groups, and follow staff cuts of 3,500 last year related to Barclays' purchase of Lehman Brothers investment bank.
The latest round of cuts, the bank said, are related to market conditions.

"We can confirm we have begun a process to reduce headcount across some parts of investment bank and investment management to ensure we are appropriately sized given the current market conduitions," Barclays spokeswoman Kerrie Cohen said. "We will continue to hire selectively across those parts of the business that are growing.”

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