Barclays to cut 5,000 jobs this year
Barclays is cutting around 5,000 jobs, or 5% of its workforce, this year as it deploys technology, including artificial intelligence, to reduce fixed costs and improve returns. Chief financial officer Anna Cross said 1,000 job cuts have already be...
By Reuters |
Agencies
Barclays plans to cut 5,000 jobs this year as it uses AI and other technology to lower costs and improve returns. (Representational Image)
London: Barclays said on Thursday it was cutting around 5,000 jobs, or 5% of its workforce, this year, as it uses technology such as AI to reduce fixed costs and improve overall returns.
One thousand of the cuts are already done and 4,000 more will come by the end of the fourth quarter, chief financial officer Anna Cross told reporters.
One thousand of the cuts are already done and 4,000 more will come by the end of the fourth quarter, chief financial officer Anna Cross told reporters.
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