AI summary
Barclays is cutting 5,000 jobs, 5% of its workforce, citing AI-driven productivity gains as the primary driver for these significant cost reductions.
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Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances
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Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profitsBusiness live – latest updatesBarclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI.The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year. Continue reading...
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