Barclays to cut 5,000 jobs, cites AI efficiency; here's what employee presentation said

​Barclays is cutting around 5,000 jobs. The move comes as the UK's largest bank expands its adoption of artificial intelligence (AI) to improve efficiency and cut costs. The banking group has already eliminated 1,000 positions and expects to cut another 4,000 roles by the end of 2026. The reductions represent around 5% of its global workforce and form part of an ongoing cost-cutting programme.​According to a New York Times report, the bank released a presentation this week noting that about 60% of the job cuts will affect support functions, including software developers. Barclays cited “organisational simplification and technology change efficiency” as part of its efforts to streamline operations, with AI expected to play an increasing role in its business.​What Barclays' presentation said about job cuts​In the presentation, Barclays outlined the job reductions to employees and investors after reporting its quarterly financial results.