Barclays has said it will cut 3,700 jobs following a strategic review, as it aims to reduce costs by £1.7bn.
Almost half of those job losses will come at its investment bank.
It comes as Barclays reported a plunge in pre-tax profit to £246m in 2012, down from £5.9bn a year ago, after setting aside money for compensating customers mis-sold products.
Barclays boss Antony Jenkins told the BBC: "It will take years before people change their impression of us."
He added: "I'm not daunted by that."
Of the job cuts, 1,800 will come from its corporate and investment bank, with the vast majority in Asia, and 1,900 will come from its European retail and business banking.
Barclays said very few of the job losses would be in the UK.
CompensationOn an adjusted basis, profits rose by 26% to £7.05bn, in line with analysts' expectations.
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Barclays has been rocked recently by the Libor and mis-selling scandals and Mr Jenkins, who replaced Bob Diamond as chief executive in August, has pledged to transform the banking group.
The bank set aside £1.6bn to compensate customers mis-sold payment protection insurance (PPI) and £850m for those mis-sold interest rate hedging products.
"You should not sell products to customers that are not in their interest," Mr Jenkins told the BBC's Today programme.
"I've been very clear that we have to run this business in a way that delivers for customers and clients."
Bonus poolBarclays also wrote down £4.6bn on the value of its own debt.
The bank confirmed that it was closing its Structured Capital Markets business, which helps clients avoid tax.
It said the job cuts, which will take place this year, would result in a restructuring charge of close to £500m in the first quarter of 2013. The cutbacks are aimed at reducing costs by £1.7bn in 2015.
Barclays currently employs 140,000 staff.
The bank said its staff bonus pool was down 16% in 2012. The average bonus it paid last year fell 13% to £13,300, while the average bonus paid to staff at its investment bank fell 17% to £54,100.
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