Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances
- Barclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI.
- The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year.
- The bank’s chief financial officer, Anna Cross, told reporters on Thursday that the job cuts were part of plans to save more than £1.1bn in 2027.
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- Barclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI.
- The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year.
- The bank’s chief financial officer, Anna Cross, told reporters on Thursday that the job cuts were part of plans to save more than £1.1bn in 2027.
Sources: Guardian