Barclays layoffs today: Bank slashes 5% of workforce, attributing 5,000 job cuts to AI

Barclays is the latest bank to announce layoffs in the name of AI efficiency, following Citigroup, HSBC, and Standard Chartered.

[Photo: Graeme J Baty/Adobe Stock]

The layoffs just keep coming: Barclays announced it is slashing 5,000 jobs, or about 5% of its workforce. It’s attributing the cuts to artificial intelligence, which the bank says has made its operations more efficient.

Of the 5,000 job cuts, 1,000 of the positions have already been eliminated, with another 4,000 layoffs scheduled by the end of this year. Many of those jobs are in developer and support........

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