Barclays says about 5% of its global workforce will be cut as AI helps drive efficiency.
The UK bank plans to cut about 5,000 jobs as it introduces more AI into work processes.
It said 1,000 posts have already been closed and expects 4,000 more to be cut by year-end.
About 60% of the cuts are expected in support functions, including developers.
Barclays reported £2.3 billion profit for the three months to September, higher than a year earlier.
💬 Have you seen AI change staffing decisions in your workplace?
Source: CNBC, BBC, The Guardian
Trading crypto from Dubai since 2019.