Barclays to cut 5,000 jobs this year as AI makes the bank more efficient

Barclays expects to cut about 5,000 jobs by the end of 2026, around 5% of staff, as AI and other technology cut costs. Most cuts hit support roles. Barclays expects to have cut around 5,000 jobs by the end of 2026, roughly 5% of its staff. The bank said artificial intelligence and other technology now let it do the same work with fewer people. The British lender gave the figure on Thursday along

By the Truvace deskOctober 22, 20261 min read1 sourceJournalismTRV-2026-2192· cite & verify

In brief

Barclays told the public on a Thursday in October 2026 that it expects to have shed roughly 5,000 jobs by the end of the year. The bank attributes the reductions partly to artificial intelligence and other technology, which it says allow the same work to be done by fewer employees.

The figure matters because it ties AI directly to workforce reductions at a large lender, and the cuts are concentrated in support functions. What remains unclear from the supplied text is how much of the reduction is due to AI versus other technology, who is affected, and how the bank will manage it.

Main points

Barclays expects about 5,000 fewer jobs by the end of 2026.
The reduction equals roughly 5% of the bank's staff.
Most of the cuts fall on support roles.
The bank says AI and other technology let it do the same work with fewer people.

The problem

Barclays expects to have removed about 5,000 positions, around 5% of its workforce, with most cuts falling on support roles, because AI and other technology let it work with fewer people.

The rundown

The announcement comes from a British lender and is framed as an expectation about the position at the end of 2026, not a completed count as of the October publication date.

The source text says the cuts are driven by AI and other technology that reduce costs, so the efficiency claim comes from the bank's own account and is bundled with non-AI technology.

The supplied excerpt breaks off after noting that the bank gave the figure on Thursday, so further details such as timing, regions, or severance are not available.