Barclays plans to cut about 5,000 jobs
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AI-assisted source synthesis · not an independent investigation.
A report dated October 23, 2026, said Barclays plans to cut about 5,000 jobs this year, or around 5% of its total workforce. The bank said the move is intended to expand the use of artificial intelligence and technology, boost productivity, and reduce costs. About 60% of the proposed job cuts involve support functions. Barclays has already set aside £307 million in restructuring costs for the first nine months, and expects to incur about £300 million more by year-end. The bank also expects that by the end of 2026, half of its software developers will be using Anthropic's Claude Code.
AI-written from reports · updated 16 hours ago
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- PYMNTSBarclays plans to cut around 5,000 jobs this year as AI drives operational restructuring
Barclays plans to cut around 5,000 jobs this year to expand the use of AI and technology, boost productivity and reduce costs, representing about 5% of its workforce. Around 60% of the cuts will affect support functions. Restructuring costs were 307 million pounds in the first nine months, with a further 300 million pounds in costs expected by year-end. The bank expects half of its software developers to be using Anthropic's Claude Code by the end of 2026.
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