Barclays to cut 5,000 jobs this year, citing AI productivity gains
rohanpaul_ai · x · 2026-10-22
Barclays will cut about 5,000 jobs this year, roughly 5% of staff, citing AI-driven efficiency gains, per WSJ. About 1,000 of those roles went in the first half of 2026, with the rest before year end.
CEO C.S. Venkatakrishnan said around 60% of the cuts fall on support functions, "including fewer developers as AI makes our people more productive." The cuts come alongside rising third-quarter pretax profit.
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