Barclays to Cut 5,000 Jobs Due to AI Efficiencies

04:40 AM EDT, 10/22/2026 (MT Newswires) -- Barclays (BCS) said Thursday it plans to cut about 5,000 jobs, roughly 5% of its workforce, as it turns to artificial intelligence to trim costs and free capacity for investment. About 60% of the reductions will fall on support functions, including developers, the company said. The cuts come from organizational simplification and technology changes driven by AI, Barclays said.