Barclays Plans 5,000 Job Cuts as AI and Technology Drive Efficiency Push

Barclays expects to eliminate around 5,000 positions, equivalent to roughly 5% of its workforce, by the end of 2026 as the bank uses AI, modernized infrastructure and simpler processes to reduce fixed costs. About 1,000 roles were removed in the first half of the year, leaving approximately 4,000 reductions for the second half.