UPDATE 1-Barclays begins culling 3% of its dealmakers-sources

Barclays Plc initiated layoffs this week targeting 3% of its global investment banking workforce, people familiar with the matter said, as it attempts to streamline its franchise after a tumultuous year. In the technology investment banking team in San Francisco, three senior bankers and one junior banker were notified on Tuesday they were being let go, the sources said. Barclays declined to comment.