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Home›US Markets›Equities›Barclays to cut 5,000 jobs as bank’s bosses hail AI pr…

Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances

Reported · Written up by our desk · Equities

Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profits Barclays is cutting 5,000 jobs as part of wider cost-saving plans that its bosses say are being driven by advances in AI. The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year. Continue reading...

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Sources

Guardian BusinessBarclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances

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