Barclays to Cut 3,700 Jobs

Part of plan to rebuild reputation

LONDON—Barclays BARC.LN +6.53% PLC on Tuesday said it would slash several thousand jobs as part of a three-year effort to rebuild the bank's tattered reputation and ready it for a tougher regulatory environment.

Under Chief Executive Antony Jenkins' new plan for the lender, around 3,700 jobs will go, mostly in its investment bank, as it aims to slice around 9% from its £18.5 billion cost base by 2015.