Barclays to cut 5,000 jobs this year
BCS•Barclays said it is cutting around 5,000 jobs, or 5% of its workforce, this year as it uses technology such as AI to reduce fixed costs and improve returns. One thousand cuts are complete, with 4,000 more planned by the end of the fourth quarter.
1. Job cuts planned
Barclays said it is cutting around 5,000 jobs, or 5% of its workforce, this year. Chief financial officer Anna Cross said 1,000 cuts are already complete and 4,000 more will come by the end of the fourth quarter. The bank is using technology such as AI to reduce fixed costs and improve overall returns.
