GoKawiilBarclays to cut 5,000 jobs, about 5% of staff, citing AI efficiency
Barclays announced it will eliminate roughly 5,000 positions, representing about 5% of its global workforce. The bank said the cuts stem from efficiency gains brought about by artificial intelligence tools in its operations. The move follows similar AI-linked layoff announcements at Citigroup, HSBC, and Standard Chartered.