Some are likely to have gone already or be in train as the bank has begun to scale back its vast commodities trading operation and end trading in so-called physical commodities such as agricultural produce.
He listed the potentially harmful side effects from sharp movements in currencies, commodities and interest rates that could push already weakened countries to the brink of collapse.
According to the MoD, the Libyan training allowance covers the difference in prices of commodities between the UK and Libya and is set by the Libyan government at up to £140 a week for each trainee.
Thus large chunks of the investment bank, such as interest rates, foreign exchange and commodities, will be hit hard by the job losses, but other areas, such as the equity and credit operations, will escape.
The Standard & Poor's GSCI Index of 24 commodities fell as much as 2.2%, leaving it 7.8% lower than at the start of the week.
Revenue generated by the bond trading division – known as fixed income, currencies and commodities (FICC) – fell by nearly a third, knocking the overall result as it the traditional powerhouse of the business.
"China is fast growing and wants to stimulate consumption so they will continue to buy our commodities.
They arrived in the post, in an innocuous cardboard box, "just commodities, being delivered like any other parcel".
Regulators became tougher on capital and leverage, making the investment banking game more expensive to play, and the volume of trading in the fabled fixed-income, currencies and commodities (FICC) business dried up.
Now, as prices for oil and other commodities slide, economists and environmental researchers warn that the loss of forest cover may be hastened, leading to new clashes as governments in the region try to maintain growth rates and spending levels by driving deeper into the jungle.
The first quarter trading updating showed that pre-tax profit at the investment banking division – the traditional powerhouse of the bank – fell by 49% to £668m largely because of a downturn in the part of the business that trades commodities, bonds and currencies.
