Barclays to axe 5,000 jobs amid push to boost efficiency with AI

British bank Barclays plans to shed about 5,000 jobs, equivalent to five per cent of its global workforce, as it turns to artificial intelligence to improve efficiency. — Picture by Matt Brown https://www.flickr.com/photos/londonmatt/26109088958/, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=89957428

Summary

Barclays plans to cut around 5,000 jobs, approximately five per cent of its global workforce, to improve efficiency using artificial intelligence.
The announcement coincided with Barclays' earnings update indicating a 13 per cent increase in net profit for the third quarter.
Barclays aims to enhance operational efficiency by integrating artificial intelligence into its processes.

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First Published: Thursday, 22 Oct 2026 4:26 PM MYT

LONDON, Oct 22 — British bank Barclays on Thursday announced plans to cut around 5,000 jobs, or roughly five per cent of its global workforce, as it leans on artificial intelligence to become more efficient.

The announcement came alongside an earnings update that showed Barclays’ net profit grew 13 per cent in the third quarter. — AFP

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Barclays to axe 5,000 jobs amid push to boost efficiency with AI

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Barclays to axe 5,000 jobs amid push to boost efficiency with AI

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