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Barclays plans to cut approximately 5,000 jobs as it invests in artificial intelligence and other technology to improve efficiency, according to the supplied reports.
The planned reduction amounts to roughly 5% of Barclays’ workforce. Euronews reports that the figure applies to the bank’s global workforce, although the supplied reports do not identify the roles, divisions or countries that would be affected.
The bank is linking the workforce reduction to an effort to streamline operations and generate efficiency savings through AI and other technology. CNBC, Personnel Today and Euronews all connect the planned cuts with Barclays’ AI-related efficiency strategy.
Euronews reports that the reductions are expected to take place by the end of 2026. The sources describe the final figure as 5,000 or around 5,000 jobs, reflecting a difference in precision rather than a reported disagreement over the plan.