Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances
Why This Matters
Key context: <p>Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profits</p><ul><li><p><a href="https://www.theguardian.com/business/live/2026/oct/22/barclays-profits-jump-looming-bank-tax-french-bond-yields-hit-fresh-24-year-high-latest-live-updates">Business live – latest updates</a></p></li></ul><p>Barclays is cutting 5,000 jobs as part of wider cost-saving plans that its bosses say are being driven by advances in AI.</p><p>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.</p> <a href="https://www.theguardian.com/business/2026/oct/22/barclays-profits-up-as-uk-banks-brace-for-tax-increase-in-budget">Continue reading...</a> This development from The Guardian highlights ongoing changes in the sector.
Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profitsBusiness live – latest updatesBarclays is cutting 5,000 jobs as part of wider cost-saving 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. Continue reading...
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