Barclays announced plans in October to cut about 5,000 jobs, 5% of workforce, as it uses AI
Key points
- Plans to cut around 5,000 jobs, 5% of workforce (Gulf News)
- About 60% of reductions in support functions, including developers, per CFO Anna Cross
- Reuters: about 1,000 roles already eliminated, another 4,000 expected by end-2026
Gulf News reports that Barclays announced plans in October 2026 to cut around 5,000 jobs, 5% of its workforce, as it increasingly uses AI to reduce costs. CFO Anna Cross said about 60% of the reductions will hit support functions, including developers. Reuters reported about 1,000 roles have already been eliminated, with another 4,000 expected by end-2026.
Original report: Gulf News ↗Edited with AI assistance. Facts are based on official sources and original reports.