In a move to slash operating costs, Barclays PLC, the world's 10th- largest commercial bank, said Thursday that it will lay off 6,000 employees, or 7.5% of its work force.

Sir Peter Middleton, chairman and chief executive officer of the London- based company, said the cuts will save up to $324 million annually. This year the bank will take a restructuring charge as high as $647 million related to the job-reduction program.

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