[ by Melanie Gretchen ]

Barclays, Goldman Sachs, and Deutsche Bank AG are among the 10 largest investment banks reducing their workforces.  In 2012, the number of front-office jobs shrunk by 12%, according to analytics firm Coalition.  Other banks in this grouping include JPMorgan, Morgan Stanley, Citigroup, and UBS AG.

Where The Cuts Have Been:

• Banking and Trading Cuts - excluding administration - totaled 54,000 in 2012, down from 62,000 in 2011.

      -  Deepest cuts were in Asia-Pacific and Europe.
      -  Asia-Pacific experienced a "significant acceleration.

• Global financial firms announced cuts of around 109,000 last year, according to data compiled by Bloomberg.
• Most cuts were made in equities, with a 14% decline in positions, followed by fixed income, currencies and commodities at 11%.

For 2013, the numbers do not appear to improve:

• Barclays announced another 1,800 job cuts - 7.5% of its workforce. 
• Morgan Stanley, which eliminated 4,500 jobs in 2012, will cut 1,700 more over the next 2 years.

For further details, go to [Bloomberg, 2/14/13].