Barclays has said it expects to cut around 5,000 staff by the end of 2026 after increasing its use of artificial intelligence (AI) to make the bank more efficient.
Cost savings and profits
The banking group reported a pre-tax profit of £2.3 billion for the three months to the end of September, alongside the job reduction plans.
The cuts are part of a broader cost-saving initiative that the bank has linked to its growing reliance on AI technology.
Timing of reductions
The staff reductions are expected to be completed by the end of 2026, with the bank citing efficiency gains as a key driver.
Further details on the specific roles or departments affected have not yet been disclosed.
