Barclays to cut 5,000 jobs in AI-fueled push to lower costs after missing Q3 earnings estimates

Barclays Plc announced it is cutting 5,000 jobs, approximately 5% of its total headcount, as part of a 'technology-enabled' effort to reduce costs through the adoption of artificial intelligence. The bank also reported third-quarter earnings that missed several key estimates, with fixed-income trading revenue falling 19%.