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Morning Edition · Saturday, October 24, 2026Published at 2:20 AM EDT · New York
Barclays will cut about 5,000 jobs this year, including fewer developers, citing AI productivity
About 60 percent of the cuts fall on support functions, 1,000 roles are already gone, and the bank expects more than £1.1 billion in savings from its efficiency program.
Barclays will cut about 5,000 jobs in 2026, roughly 5 percent of its staff, the bank said with third-quarter results. About 1,000 roles went in the first half, and the rest will go before year end. The bank's group finance director said aro…
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Part of a tracked trend
Employers Cite AI to Cut White-Collar Headcount
Large employers increasingly cite AI productivity, especially in software development and support functions, to justify headcount cuts in earnings guidance, starting in banking and spreading to other cost-heavy sectors.
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