wire / 2026-10-22-7464
Barclays to cut around 5,000 jobs, citing AI-driven efficiency
Developers are among those cut, which makes them the first group to be replaced by the tools they were asked to integrate.
The facts
Barclays bank announced plans to cut around 5,000 jobs, or 5% of its global workforce, by the end of 2026. The reductions are primarily due to increased use of AI for operational efficiency, with 60% affecting support functions and developers. The move results in significant economic harm to affected employees.