Barclays to cut 5,000 jobs as it relies more on AI
Barclays said Thursday it will cut 5,000 jobs, about 5% of its workforce, citing efficiency gains from AI.
Barclays said on Thursday it plans to cut 5,000 jobs. The U.K. bank says greater use of AI will make it more efficient and lower its costs.
BBC News reports the bank says the cuts amount to a 5% reduction in its workforce.
The New York Times calls the move the latest example of a company saying it can run with fewer workers because of artificial intelligence.
Reported by
- CNBCBarclays to slash 5,000 jobs in AI efficiency pushThu, Oct 22, 3:41 AM EDT
- BBC NewsBarclays cutting 5,000 jobs as it increases reliance on AIThu, Oct 22, 4:00 AM EDT
- The New York TimesBarclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower CostsThu, Oct 22, 8:45 AM EDT
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Earlier versions (1)
- Thu, Oct 22, 4:05 AM EDT, 2 outlets: Barclays to cut 5,000 jobs, citing AI efficiency savings