Barclays plans to cut about 5,000 jobs as technology and AI help reduce staffing needs. About 60% of the cuts affect support functions, including developers, but its chief executive says broader technology changes drive most gains.
Barclays has already cut about 1,000 roles since the start of the year. The planned reduction represents roughly 5% of its global workforce, with support functions bearing most of the cuts.
Chief financial officer Anna Cross linked the reductions to plans to save more than £1.1bn in 2027. Chief executive CS Venkatakrishnan said years of technology investment and simpler processes account for most efficiency gains so far, with AI playing a supporting role.
For companies building AI tools, the inclusion of developers puts software work alongside other support functions under pressure to become more productive. But Barclays has not specified how many cuts are directly attributable to AI, so this is not evidence that AI alone can deliver comparable staffing reductions elsewhere.
Cuts already under way show that technology-led efficiency plans are changing staffing, rather than remaining a future ambition.
The inclusion of developers makes productivity tools relevant to software teams as well as administrative operations.
The separate contribution of AI remains unproven, so builders should distinguish measured AI savings from wider process improvements.
Written automatically by the Made in 10 Newsroom from the source above.
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