Barclays announced plans to cut about 5,000 jobs, or 5% of its workforce, by the end of 2026 as it reduces costs and expands its use of artificial intelligence. About 60% of the planned cuts would affect support functions, where the bank expects AI to make staff more productive. Barclays had already cut 1,000 jobs in the first half of 2026.
The bank reported third-quarter pre-tax profit of £2.3 billion, up 12% from a year earlier but below analysts’ £2.42 billion forecast.
