Barclays is eliminating 5,000 positions, about 5% of its workforce, with 1,000 already gone and 4,000 more planned by year-end. The bank says AI has made operations more efficient, and the cuts fall mainly on U.K. retail banking roles staffed in India.
Barclays to Cut 5,000 Jobs, Citing AI Efficiency
Barclays is eliminating 5,000 positions, about 5% of its workforce, with 1,000 already gone and 4,000 more planned by year-end. The bank says AI has made operations more efficient, and the cuts fall mainly on U.K. retail banking roles staffed in India.
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