Barclays plans to cut around 5,000 jobs worldwide by the end of 2026 as it expands its use of technology to reduce costs, but chief executive C.S. Venkatakrishnan says artificial intelligence is only one part of the bank's wider efficiency drive.
The reductions represent about 5% of Barclays' workforce. Around 1,000 roles have already been eliminated, with a further 4,000 expected to go by the end of the year, chief financial officer Anna Cross said as the bank reported its third-quarter results on Thursday, 22 October.
