Barclays Is Slashing 5,000 Jobs in an AI Push
Barclays said it’s cutting 5,000 jobs, or around 5% of its full-time workforce, as it increases its reliance on AI.
The British bank said in its third-quarter earnings statement that it is “structurally reducing” its costs through “technology-enabled” head count reductions.
Barclays laid out the numbers in its accompanying earnings presentation, linking the cuts specifically to “organisational simplification and technology change efficiency driven by AI.”
This is a developing story. Check back for updates.
