Barclays Stock Soars as Bank Shakes Up Organization, Plans Cost Cuts and Stock Buybacks

Key TakeawaysBarclays announced a shake-up to its operations and announced billions in cost cuts, as well as stock buybacks.The bank will now be divided into five divisions, including a U.S. consumer bank unit.Barclays plans to reduce expenses by $2.53 billion and repurchase at least$12.66 billion in shares by 2026.American Depositary Receipts (ADRs) of Barclays Plc (BCS) soared on Tuesday as the U.K.-based bank announced a major restructuring as well as plans to slash costs and return billions to sharehol ...