{
  "id": 16029865,
  "title": "Barclays bank to cut about 5,000 jobs amid AI drive",
  "url": "https://urgent.news/2026/10/22/barclays-bank-to-cut-about-5-000-jobs-amid-ai-drive-16029865",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-22T10:40:51.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/barclays-bank-to-cut-about-5000-jobs-amid-ai-drive/"
  },
  "original_language": "en",
  "account": null,
  "summary": "Barclays has announced plans to cut approximately 5,000 jobs, representing about 5% of its 93,000 global staff, by the end of 2026. According to Guardian Technology, executives have already cut 1,000 workers since the start of the year. These reductions are part of a cost-cutting strategy driven by advances in artificial intelligence and efforts to increase efficiency. Chief financial officer Anna Cross stated that the actions are intended to save more than £1.1bn in 2027, noting that roughly 60% of the group actions relate to support functions, including fewer developers.\n\nThe announcement coincided with an earnings update. Malay Mail reported that Barclays’ net profit grew 13 per cent in the third quarter. Regarding the role of technology, Chief Executive CS Venkatakrishnan told reporters that the bank has been making deep investments in infrastructure and simplifying processes. He described AI as the \"icing on the cake\" to modernising the bank's technology, noting that AI has an important role to play and may have an even more significant role in the future.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Barclays bank to cut about 5,000 jobs amid AI drive",
        "url": "https://urgent.news/2026/10/22/barclays-bank-to-cut-about-5-000-jobs-amid-ai-drive",
        "published": "2026-10-22T09:02:12.000Z"
      },
      {
        "outlet": "Punch Nigeria",
        "title": "Barclays bank to cut about 5,000 jobs amid AI drive",
        "url": "https://urgent.news/2026/10/22/barclays-bank-to-cut-about-5-000-jobs-amid-ai-drive-16032645",
        "published": "2026-10-22T11:04:51.000Z"
      },
      {
        "outlet": "Finextra",
        "title": "Barclays to cut 5,000 jobs amid AI expansion",
        "url": "https://urgent.news/2026/10/22/barclays-to-cut-5-000-jobs-amid-ai-expansion",
        "published": "2026-10-22T11:36:51.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}