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Barclays plans to cut around 5,000 roles, or roughly 5% of its 93,000 staff, by the end of 2026, with support functions and software developers accounting for about 60% of the job losses, citing productivity gains from artificial intelligence. About 1,000 positions were already removed in the first half of 2026, and the bank reported a 12% increase in third-quarter pre-tax profit to £2.3B along with a £500M share buyback.
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Key sources
- SOURCE@ft“developers bearing the brunt of the cuts as the UK bank adopts AI across its operations”x.com
- SOURCE@disclosetv“cut 5,000 jobs, 5% of its workforce, to save costs and drive efficiency through investment in AI”x.com
- SUPPORT@zerohedge“AMERICAN EXPRESS TO CUT 5% OF JOBS, ABOUT 3,500 EMPLOYEES”x.com
- SUPPORT@amanda_goodall“Barclays is spending more than £100M to cut jobs, mostly on the UK high street.”x.com
- SUPPORT@layoffai“Pre-tax profit rose 12% last quarter to £2.3 billion. It also announced a £500 million buyback.”x.com
- SUPPORT@rohanpaul_ai“About 1,000 of those roles went in the first half of 2026, and the rest go before year end.”x.com
- SUPPORT@highyieldharry“cost center back & middle office is more at risk from AI than front office revenue generation at the moment”x.com
- SOURCEhuggingnewshuggingnews.com