Barclays Posts Full-Year Profit, Plans To Lower Up To 12,000 Jobs

Barclays PLC

swung to a profit in the full year and announced its plans to lower up to 12,000 jobs this year. Barclays posted an operating loss of £329 million in the fourth quarter. For the year, the bank's operating profit dropped to £2.52 billion, versus £3.99 billion in 2012. The bank's net profit surged to £540 million in 2013, versus a year-ago net loss of £624 million. Its underlying annual profit declined to £5.17 billion versus £7.60 billion. Barclays shares closed at $18.21 yesterday.