Barclays to cut 5,000 jobs, partly because of AI, it says
The British bank says about 5% of its staff will go, and about 60% of the cuts are in support jobs, including developers. Its leaders say AI makes people more productive, but call it only “the icing on the cake”.
Barclays announced the cuts with its results for July to September, when its profit before tax rose 12%. The bank says the cuts are part of a plan to save more than £1.1 billion in 2027.