Anna Cross
Chief financial officer, Barclays
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“These actions involve an expected reduction of circa 5,000 full-time employees. Around 60% of the group actions relate to support functions, including fewer developers, as AI makes our people more productive.”
In the Base
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Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances
The Guardian reports that Barclays will cut about 5,000 jobs, around 5% of its 93,000 staff, as part of cost savings its executives link to AI. The chief executive says technology investment drove most gains; the Unite union calls AI an excuse.