The key facts
- Barclays is cutting around 5,000 employees — 5% of its global workforce
- 1,000 positions have already been closed, with another 4,000 to go by the end of 2026
- The bank links the cuts to investments in technology and AI
Scale of the cuts
Banking group Barclays has announced the reduction of around 5,000 employees in the current year amid more active adoption of artificial intelligence in its processes. According to the bank, 1,000 positions have already been closed, and the reduction of another 4,000 is planned to be completed by the end of 2026. The cuts amount to about 5% of the group's global workforce.
Which divisions are affected
Most of the cuts affect operational and functional roles, with the majority in the British retail banking division. However, the cuts will also affect the investment banking division.
The reason — technology and AI
Barclays stated that the cuts are the result of investments in technology: artificial intelligence has made a number of work processes more efficient.
Image source, Getty Images 
