Barclays to cut around 5,000 jobs by end of 2026 as AI adoption expands
Barclays plans to cut about 5,000 jobs, roughly 5% of its global workforce, by the end of 2026 as it expands its use of artificial intelligence (AI) and modernises operations. About 1,000 roles were removed in the first half of the year, and a further 4,000 are expected to go before December. Around 60% of the cuts fall on support functions, including software development roles. Group Finance Director Anna Cross cited "fewer developers as AI makes our people more productive", and the bank expects more than £1.1bn in gross efficiency savings in 2027. The trade union Unite criticised the move, saying AI is being used as an excuse to discard staff. The article describes business and workforce news with no cyber threat, vulnerability or incident.
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Barclays to cut around 5,000 jobs by end of 2026 as AI adoption expands
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Barclays plans to cut about 5,000 jobs, roughly 5% of its global workforce, by the end of 2026 as it expands its use of artificial intelligence (AI) and modernises operations. About 1,000 roles were removed in the first half of the year, and a further 4,000 are expected to go before December. Around 60% of the cuts fall on support functions, including software development roles. Group Finance Director Anna Cross cited "fewer developers as AI makes our people more productive", and the bank expects more than £1.1bn in gross efficiency savings in 2027. The trade union Unite criticised the move, saying AI is being used as an excuse to discard staff. The article describes business and workforce news with no cyber threat, vulnerability or incident.