Bank pulling out of Africa
Barclays unveils restructure as profits slip
The bank announced the restructuring alongside a 2% fall in full-year adjusted pre-tax profit to £5.4 billion.
It is cutting its dividend by more than half to 3p per share and announced a further £1.45bn provision for PPI mis-selling.
In keeping with other banks it has reduced its bonus pool for staff, down 10% to £1.67bn.
The bank said it aimed to simplify its business by focusing on two main core divisions – Barclays UK and Barclays Corporate & International.
Chief executive Jes Staley said: “Barclays is fundamentally on the right path, and is, at its core, a very good business.
“There is of course more we need to do and areas where I believe we can move much faster to deliver the high performing group that Barclays can and should be.”