Barclays plans 5,000 job cuts as bank steps up AI-led efficiency

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The London-based bank is simplifying its organisation and improving operational efficiency as it seeks to create capacity for investment

By Bloomberg

Updated - October 22, 2026 at 01:15 PM.

Barclays plans to cut 5,000 jobs as part of its cost-reduction drive, citing efforts to simplify operations and improve efficiency through AI. | Photo Credit: Reuters

Barclays Plc said it’s cutting 5,000 jobs as part of an effort to reduce costs, adding that artificial intelligence is starting to create efficiency. 

That would affect about 5% of the bank’s employees, according to a presentation on Thursday. Barclays employed about 93,000 people globally at the end of 2025. 

The London-based bank said it was “structurally reducing” costs to “generate capacity for investment.” It said it’s focused on simplifying the organization and increasing efficiency, driven by AI, according to the presentation.

More stories like this are available on bloomberg.com

Published on October 22, 2026

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