Barclays to cut up to 12,000 jobs

The British lender Barclays said on Tuesday that it would cut up to 12,000 jobs over the course of 2014 as part of its continued restructuring, and it reported a loss in the fourth quarter.

About 7,000 of those job losses would occur in Britain, according to the New York Times, which reports the bank is seeking to cut as much as 1.7 billion pounds in annual costs by 2015.

In the fourth quarter, Barclays posted a loss of £514 million, or about $845 million, compared with a loss of £364 million in the same period a year earlier, the Times reports.

On Sunday, Barclays announced that it was investigating the possible theft of personal data of as many as 27,000 customers.

Read more from the New York Times.