UK lawmaker warns AI-driven bank cuts 'deep, wide and brutal' as teams face redundancy
connoraxiotes · x · 2026-10-07
Darren Jones amplifies an FT exclusive: a bank has entered a 'consultation period' over proposed cuts described as 'deep, wide and brutal', with almost entire teams at risk of redundancy. He argues AI is replacing jobs rather than enhancing them—companies boost profits while workers lose wages—and calls for shaping AI in the interests of workers and the UK economy instead of waiting to see what happens, warning of serious societal problems if displaced workers can't find alternatives.
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