Economy
Barclays to cut 5,000 jobs as part of cost-cutting plans driven by AI advances
The banking group expects to complete the reductions by the end of the year as part of efficiency measures designed to deliver more than £1.1bn in savings by 2027.
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The essentials of this story
- What happened
- Barclays is eliminating 5,000 positions globally as it integrates more artificial intelligence into its operations and support functions.
- Who is affected
- Barclays employees, particularly those in support functions and developer roles across the UK and India, as well as the bank's shareholders.
- What changes
- Approximately 5% of the bank's global workforce is being cut by the end of the year, contributing to expected savings of more than £1.1bn in 2027.
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Sources
- Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances — The Guardian — negócios
- Barclays cutting 5,000 jobs as it increases reliance on AI — BBC News — negócios
- Barclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs — The New York Times — negócios