Barclays announces it will cut 5,000 jobs as part of an AI-driven efficiency initiative
Barclays will cut around 5,000 jobs this year, affecting about 5% of its staff, with 60% of cuts targeting support functions.
- Barclays is cutting around 5,000 jobs this year.
- Barclays reported third-quarter profit of £2.3 billion.
- Barclays is cutting costs using artificial intelligence to improve efficiency.
- Around 60% of the overall job cuts will impact staff in support functions.
- Barclays expects to save 300 million pounds by year-end.
- One fifth of jobs have already been eliminated.
- Barclays employed about 93 000 people globally at the end of 2025.
- Barclays' equities revenue rose 47%.
- Barclays' income from fixed income trading slid 19% to £1 billion.
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