The Big OneBanking & Lending
Barclays plans to cut 5,000 jobs in an AI-linked efficiency push
Barclays plans to cut 5,000 jobs, about 5% of its workforce, as part of an artificial intelligence-linked efficiency push, CNBC reports. About 60% of the cuts are expected in support functions, including developers, according to the earnings presentation.
NoteBarclays tied the job plan to AI in its earnings presentation, and the cuts are expected to fall mainly in support functions. Other banks with similar functions may face the same question.
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