Skip to contentNewskeryx

22 October 2026

Barclays to cut about 5,000 jobs, citing AI and efficiency gains

First reported

Financial Times, TechRadar and 1 other ran this on , all on the same day.

  • Barclays, a major UK bank, plans to cut around 5,000 jobs, about 5% of its 93,000 global staff.
  • The bank says about 60% of the cuts fall in support roles, and it aims to save £1.1bn in 2027.
  • Chief executive CS Venkatakrishnan says technology and process simplification drive most efficiency gains, with AI playing a smaller role so far.

Our read

Earlier on this story

Written by Newskeryx from which newsletters covered this story and from our own archive.

Reported by TechRadar, The Guardian, Financial Times