BARCLAYS TO CUT 5,000 JOBS AS BANK INCREASES ITS USE OF ARTIFICIAL INTELLIGENCE. Barclays is set to cut around 5,000 jobs this year as it continues investing in technology and artificial intelligence to make its operations more efficient. Around 1,000 positions have already been eliminated, with a further 4,000 expected to go by the end of 2026. The cuts represent approximately 5% of the bank’s global workforce, with operational and support roles bearing the brunt. The job losses come as Barclays approaches the end of a three year cost cutting programme, primarily focused on its UK retail banking division. The bank reported £2.3 billion in profit over its latest three month reporting period, while chief executive CS Venkatakrishnan said the reductions reflected years of investment in technology. The move comes amid growing concerns that AI could increasingly replace human workers across major industries. #ThisIsMoney #Money #News #UK