Barclays to cut 5,000 jobs amid increased reliance on AI

Barclays is cutting around 5,000 staff, which is 5% of its global workforce, with 1,000 posts already closed and an expected further reduction of 4,000 by the end of 2026. Most cuts affect operational and functional roles, resulting from technology investments that make processes more efficient, according to the banking group. Barclays also reported a £2.3bn profit in the latest three months, which was higher than a year ago but slightly below forecast.