Barclays to cut 5,000 jobs this year, citing AI-driven efficiency gains
10/22/2026 — 10/22, 16:19·2 sources (all)·2 reports (all)
Key takeaways
- Barclays plans to cut about 5,000 jobs this year, roughly 5% of its workforce, as it rolls out AI across business lines, with engineering ro…
Background & analysis
On October 22, 2026, Barclays Plc said it would cut 5,000 jobs as part of an effort to reduce costs, adding that artificial intelligence is starting to create efficiency gains. Bloomberg reported that AI was cited as one of the factors behind the efficiency push. The same day, 36Kr, citing Sina Finance, reported that the reduction amounts to roughly 5% of the bank's total workforce and would proceed alongside the rollout of AI across all business lines, with development roles expected to be hit hardest.
The announcement came together with Barclays' third-quarter results. The bank reported pre-tax profit of £2.3 billion for the quarter, up 12% year on year, while revenue rose just 3% to £7.4 billion. Its fixed income business was weak, and both profit and revenue fell short of City expectations; the market had expected pre-tax profit of £2.42 billion for the quarter ending in September.
The two reports frame the AI link slightly differently: Bloomberg says Barclays stated that AI is beginning to generate efficiency, while 36Kr describes the bank-wide AI rollout as one of the drivers of the cuts. Public information currently stops at the announcement stage, with no details yet on a timeline or the specific roles affected.
AI-generated from 2 reports · updated 3 hours ago
Latest turnBarclays plans to cut 5,000 jobs this year, about 5% of its workforce, as it rolls out AI across its business lines, with development roles expected to be hit hardest. The bank posted Q3 pre-tax profit of £2.3 billion, up 12% year on year, but weak fixed-income results left revenue and profit below market expectations.
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Reports on this story headlines open the original
Barclays plans to cut 5,000 jobs this year, about 5% of its workforce, as it rolls out AI across its business lines, with development roles expected to be hit hardest. The bank posted Q3 pre-tax profit of £2.3 billion, up 12% year on year, but weak fixed-income results left revenue and profit below market expectations.
36氪AI score 67Barclays Plc is cutting 5,000 jobs as part of a cost-reduction effort, saying artificial intelligence is starting to deliver efficiency gains. Bloomberg reports the cuts are part of the bank's broader plan to lower costs.
Bloomberg TechnologyAI score 62
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