Barclays to cut 5,000 jobs as AI drives efficiency push

Barclays announced plans to cut 5,000 jobs, about 5% of its workforce, as part of a cost-cutting and efficiency strategy linked to artificial intelligence. The bank aims to simplify its organization and invest in technology changes driven by AI, with most job reductions occurring in support roles such as developers. This move is intended to reduce costs structurally and free up resources for future investments. The job cuts reflect a broader trend in banking to leverage AI for operational efficiency.

Barclays PLC shares are trading at USD 22.43 on Pluang as of Oct 22, 2026 14:31 WIB. The stock has seen a 0.75% decline in the past day. Its market capitalization stands at $74.31 billion, with a dividend yield of 2.76%.