Barclays Africa Group may halve the number of top jobs at its South African retail and business bank as it reorganises after its British parent cut its stake, according to a source familiar with the matter. The bank started talks to consult executives on a plan that may result in the reduction of top management roles from 27 to 12 to flatten the company's management structure, said the source, who declined to be named. Once the consultation process is completed, the jobs will be advertised and executives who aren't selected will be considered for employment elsewhere in the company, the source said. Each person affected by the changes could remain on the bank's payroll for up to three months before decidingeither to stay with the bank or move on. Barclays Africa is reverting to the Absa Group name and revamping its strategy after Barclays Plc cut its controlling stake to below 15% to trim back its international operations.CEO Maria Ramos is embarking on a second round of top managem...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.