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Barclays has announced it's going to cut 19,000 jobs by 2016 as part of a major restructuring of the bank.

A large number of the jobs are going in the investment banking section which has seen a big fall in profits. However, the Chief Executive Antony Jenkins has refused to rule out branch closures

5 live's Adam Parsons and Philip Augar, the former managing director at Schroders asset management, explained the plans.

This clip is from Breakfast on 8 May