Barclays to slash 5,000 jobs by 2026-end as AI takes on bigger role in bank’s operations

In a significant restructuring effort, Barclays is poised to cut about 5,000 jobs from its worldwide team by the year’s conclusion. This initiative focuses on optimizing efficiency and increasing investment in innovative technologies, notably artificial intelligence. The reductions will largely target support functions, affecting numerous developers and operational staff. Following 1,000 closed roles, the anticipated cuts will drive Barclays’ ongoing mission to enhance its services while reducing costs.