Barclays bank to cut about 5,000 jobs amid AI drive

Barclays plans to eliminate about 5,000 positions worldwide by the end of 2026, representing roughly five percent of its global workforce, as it seeks efficiency gains through artificial intelligence. Business Recorder reported the announcement on Thursday, alongside an update showing the British lender’s net profit increased 13 percent in the third quarter.

The bank said the reductions are part of organisational streamlining and technology-related efficiency measures using AI. Around 60 percent of the roles affected are in support functions, with Barclays also expecting fewer developers as the technology raises employee productivity. The planned cuts therefore combine changes to its staffing structure with a broader push to use AI in operations.