BARCLAYS TO CUT 5,000 JOBS

BARCLAYS TO CUT 5,000 JOBSLONDON, OCTOBER 22 /SRNA/ - British banking giant Barclays has announced that it expects to reduce its workforce by around 5,000 by the end of 2026, having turned to artificial intelligence /AI/ to improve operational efficiency.

The banking group said the cuts would account for around five percent of its total workforce, which stood at approximately 93,000 employees worldwide at the end of 2025.

The bank cut around 1,000 jobs in the first half of 2026, with the remaining reductions scheduled for the second half of the year, DPA news agency reported.

Most of the job cuts involve operational and functional roles at the bank.

The management said this was "the result of years of investment in technology, which is continuing."

Adopting AI to make certain work processes more efficient allows the bank to employ fewer people in roles such as software developers.

Barclays is nearing the end of its three-year strategy to improve performance, which has included significant cost-cutting and strengthening its technological capabilities.