MORE BANK LAYOFFS: Barclays is reportedly cutting 20% of its investment bank staff

Barclays could be about to cut a huge chunk of its investment bank staff.

The London-based bank is set to cut another 20% of its investment banking headcount, according to a report from Bloomberg's Stephen Morris.

That's in addition to an existing plan to cut 7,000 jobs from the division.

Most of the layoffs will be in Asia and focused in the global cash equities business, according to the report.

Barclays CEO Jes Staley officially took over on December 1.

Staley has reportedly asked former colleague and "Queen of Commodities" Blythe Masters to run the investment banking division.

A Barclays spokesperson told Business Insider: "We are constantly monitoring our opportunities in different geographies and businesses globally over the cycle."

Earlier this week, news broke that Morgan Stanley would be cutting a quarter of its fixed income staff to focus on more profitable divisions of the firm.