nuOct 22, 2026, 08:58

British bank Barclays to cut thousands of jobs due to AI

Barclays plans to cut thousands of jobs to reduce costs and increase efficiency through the use of artificial intelligence. The announcement follows disappointing third-quarter financial results, particularly within the bank's bond trading division.

British banking giant Barclays has announced plans to cut thousands of jobs as part of a restructuring program aimed at reducing costs. The bank, which employed approximately 93,000 staff at the end of last year, intends to use artificial intelligence to simplify operations and enhance efficiency. These workforce reductions are expected to primarily impact support departments across the global organization.

The announcement coincides with the release of the bank's third-quarter financial results, which missed analyst expectations. A significant decline in revenue from bond and currency trading, which fell by 19 percent to 1.01 billion pounds, has put pressure on the institution to improve its financial performance. While the exact geographical impact of the job cuts remains unclear, the bank maintains a presence in Amsterdam at the Zuidas district. Barclays hopes these measures will generate capital for future strategic investments and address the current downward trends in its trading performance.

Economy Business Technology Amsterdam Netherlands

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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