Barclays cutting 5,000 jobs as it increases reliance on AI
Barclays is cutting 5,000 jobs, representing 5% of its global workforce, as it shifts toward AI-driven operational efficiency. The reductions will primarily affect UK retail banking and investment banking divisions through 2026.
Why it matters
This highlights the growing trend of major financial institutions replacing human labor with automation to reduce costs.
Image source, Getty Images Published 14 minutes ago Barclays is cutting around 5,000 staff this year as it introduces more artificial intelligence (AI) into its processes.
The banking group said 1,000 posts had already been closed and it expects a further reduction of 4,000 to be complete by the end of 2026.
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