The lender’s global workforce could fall below 100,000 by the end of 2017

Barclays is planning to cut more than 30,000 of its staff within two years as the struggling bank considers accelerating a group-wide cost-cutting programme after firing Antony Jenkins, its chief executive, this month.

A radical redundancy programme that could lead to the lender’s global workforce falling below 100,000 by the end of 2017 is thought to be the only way to address the bank’s chronic underperformance and hit an ambitious target of doubling its share price, according to senior sources.

Mr Jenkins was ousted in part because of his failure to get a grip on the bank’s cost base and it is understood that whoever is appointed to succeed him as chief executive will be expected to sign up to a dramatic shrinkage of employee