Barclays to cut about 5,000 jobs, roughly 5% of staff, as it expands AI use
Barclays is eliminating around 5,000 roles worldwide, with 1,000 already gone and the rest due by year end, mostly in UK retail banking support functions including developers, with many losses in India back offices. The bank frames AI as one part of a wider modernisation and targets a further 1.1 billion pounds in savings in 2027.
Why it matters
Large banks are now citing AI in headcount cuts that hit support and engineering roles, including offshore back offices in South Asia.