Barclays Bank is heading to cut 5,000 jobs by the end of 2026 due to artificial intelligence

London, UK – On Thursday, October 22, 2026, British bank Barclays announced that it plans to cut about 5,000 jobs worldwide by the end of the year. The bank says this change is intended to make its operations more efficient by using artificial intelligence and advanced technology.

Reducing the workforce and cutting operational jobs

The long-established banking group said, according to a report by British news agency PA Media, that the planned job cuts represent about 5% of its total workforce. At the end of 2025, the bank had about 93,000 employees worldwide. The bank said it had already cut about 1,000 jobs in the first half of 2026. It plans to make the remaining cuts during the second half of the year. Management said most of the affected jobs would be in operations, administration and other support functions. The cuts will affect different parts of the bank and its offices in several countries.

The role of artificial intelligence and new technology

The group's chief executive, C.S. Venkatakrishnan, known as “Venkat,” explained that these difficult decisions were “a direct result of the large investments we have made—and continue to make—in technology and digital development over a number of years.”

Venkat said that artificial intelligence has helped the bank automate complicated tasks and complete them faster. This means the bank can do some types of work with fewer employees, including work in software development and technical systems. The announcement comes as Barclays approaches the final stage of its three-year plan to improve its financial performance. The plan has included major cuts to operating costs and efforts to improve the bank's ability to compete through technology.