Barclays Plans 5,000 Job Cuts By 2026, Citing AI

Al Jazeera · world

Barclays is planning to eliminate 5,000 jobs by the end of 2026, with the bank's chief executive highlighting artificial intelligence (AI) as a key tool for cost reduction. He described AI as the "icing on the cake" for these efforts. However, trade unions have voiced concerns, accusing the bank of using AI as a pretext to downsize its workforce. As businesses increasingly adopt AI to enhance productivity, significant questions are emerging about its broader impact on employment and the future of jobs.