Barclays to Eliminate 5,000 Roles by 2026 as AI Expands

WHO:

Bloomberg - Barclays plans the job cuts.

TechRadar - Barclays Chief Executive described AI as “icing on the cake.”

WHAT:

Bloomberg - Barclays employed about 93,000 people globally at the end of 2025.

Bloomberg - Barclays plans to cut 5,000 jobs, approximately 5% of its workforce.

Bloomberg - Approximately 60% of the planned cuts will come from support and developer roles.

TechRadar - Barclays plans to cut 5,000 jobs as part of a plan to save £1.1 billion.

TechRadar - The majority of the work is going to AI.

WHERE:

Bloomberg - Barclays’ workforce is located globally.

WHY:

Bloomberg - The job cuts are part of AI-driven cost cutting.

TechRadar - The cuts are part of Barclays’ plan to save £1.1 billion.

HOW:

Bloomberg - Barclays plans to use AI-driven efficiency efforts as part of its cost-cutting measures.

TechRadar - Barclays is handing work over to AI.

(UPDATED October 22, 2026 13:19 UTC)

Barclays plans to cut 5,000 jobs worldwide as it uses artificial intelligence to reduce costs and streamline work. The cuts represent about 5% of the bank’s workforce and are part of a plan to save £1.1 billion. Around 60% of the positions targeted are in support and developer roles. Barclays employed about 93,000 people globally at the end of 2025. The bank intends to hand more work over to AI as part of its efficiency efforts. Its chief executive described AI as “icing on the cake,” while the planned reductions reflect a broader push to lower expenses. The job cuts are expected to reshape how some of the bank’s support and technology work is carried out.

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(UPDATED October 22, 2026 11:10 UTC)

Barclays plans to cut 5,000 jobs, about 5% of its workforce, as it pursues a £1.1 billion cost-saving plan. Around 60% of the planned cuts are expected to affect support and developer roles. The bank is linking the reductions to efforts to use artificial intelligence to improve efficiency and lower costs. Barclays Chief Executive described AI as “icing on the cake,” while saying the majority of the work is going to AI. The company is handing more tasks over to artificial intelligence as part of the changes. The job reductions are one element of a broader effort to achieve the savings target. The planned cuts could reshape how support and development work is handled across the bank.