Barclays to cut 5000 jobs over AI growth

British Bank Barclays announced that it expects to cut approximately 5,000 jobs by the end of 2026 as part of its strategy to increase efficiency through reliance on artificial intelligence. This represents about 5% of its workforce, which totaled around 93,000 employees at the end of 2025, following the reduction of 1,000 jobs in the first half of 2026. This move is a result of ongoing investments in technology, where AI has helped improve operational efficiency, leading to a decreased need for certain roles such as developers. The bank aims to complete its three-year strategy to boost performance through cost reductions and the development of technological capabilities.

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