Barclays to Cut Thousands of Jobs in AI Efficiency Push. 5% of The Company Will be Laid Off.

Source: International Business Times

About 60% of the cuts are expected to affect support functions, including developers, according to the bank's earnings presentation. Adrian Dennis/AFP via Getty Images Barclays plans to eliminate about 5,000 jobs, roughly 5% of its global workforce, as the British bank turns to artificial intelligence and organizational changes to lower costs and free up money for investment. The reductions, disclosed Thursday alongside its third-quarter results, will fall heavily on support operations.