Barclays Bank to Cut 5,000 Jobs by 2026 on AI Efficiency
Barclays Bank job cuts will hit about five percent of its global workforce, and the plan was announced alongside a 13 percent rise in third-quarter net profit.
Barclays plans to cut around 5,000 jobs, about 5% of its global workforce, by the end of 2026.
The bank links the cuts to an AI-driven efficiency drive and technology change.
About 60% of the job losses relate to support functions, including fewer developers.
The announcement came with an earnings update showing net profit grew 13% in the third quarter.