Business

Bank Job Cuts and AI Impact

Updated 2026-10-22 09:05 UTC 1 source Negative

Barclays is cutting thousands of jobs as it relies on artificial intelligence for back-office tasks. This move comes amid rising healthcare costs, with workers facing higher premiums.

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MarketWatch

Why a global bank is slashing thousands of jobs — and what the Fed says about AI replacing workers

Barclays on Thursday said it’s cutting 5,000 jobs, about 5% of its workforce, as the bank relies on artificial intelligence to perform back-office tasks.

2026-10-22 08:47 UTC