Barclays Plans 5,000 Job Cuts Amid AI-Driven Efficiency Drive

Barclays announced plans to eliminate 5,000 positions, roughly one in 20 of its total staff, as part of an AI-driven cost-cutting strategy. Approximately 60% of these reductions will impact support roles, including developers. The bank intends to invest around £600 million this year to facilitate these cuts and enhance operational efficiency, a move revealed alongside its third-quarter 2026 earnings.