Announcement ·
Barclays to cut 5,000 jobs, 5% of its workforce, to reduce costs through AI
Original title, in Spanish: “Barclays recortará 5.000 empleos, el 5% de su fuerza laboral, para reducir costes por la IA”
- Publication
- Cinco Días (Spain)
- Author
- Reuters
- Published on
- 22 October 2026 · read in the page structured data
Summary
British bank Barclays plans to cut 5,000 jobs in 2026, 5% of its workforce, as part of a technology investment strategy aimed at reducing fixed costs, according to chief financial officer Anna Cross. A thousand positions have already been cut in the first half, and 4,000 more will go by the end of the year. Around 60% of the cuts affect support functions, including software developers, as AI makes it possible to optimise workflows, according to chief executive C.S. Venkatakrishnan. Attributable profit over nine months rose by 17%, but the third quarter disappointed owing to weak fixed-income trading. An analyst at Quilter Cheviot notes that the cuts illustrate how AI and automation are transforming the banking industry. Microsoft and HSBC have also announced automation-related layoffs this year.
Summary based on the full text of the article.
Read the article on Cinco Días →Figures cited
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5 %
Jobs cut at Barclays in 2026, as a proportion of total workforce
Barclays, 2026, global workforce
« Barclays calcula recortar este año 5.000 puestos de trabajo, lo que equivale al 5% de su fuerza laboral »
Source: Barclays
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5,000 jobs
Number of positions cut at Barclays in 2026
Barclays, 2026
« Barclays calcula recortar este año 5.000 puestos de trabajo, lo que equivale al 5% de su fuerza laboral »
Source: Barclays
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1,000 jobs
Positions cut in the first half of 2026
Barclays, first half of 2026
« un millar de empleos fueron suprimidos en la primera mitad de 2026 »
Source: Barclays
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4,000 jobs
Positions to be cut by the end of the fourth quarter of 2026
Barclays, fourth quarter of 2026
« calcula que los otros 4.000 se eliminen hacia el final del cuarto trimestre del año »
Source: Barclays
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6,887 EUR million
Barclays attributable profit over the first nine months of 2026
Barclays, nine months to 30 September 2026
« su beneficio atribuido se situó en los nueve meses hasta el pasado 30 de septiembre en 5.837 millones de libras (6.887 millones de euros), un 17% más »
Source: Barclays
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17 %
Growth in Barclays attributable profit over nine months
Barclays, nine months to 30 September 2026
« su beneficio atribuido se situó en los nueve meses hasta el pasado 30 de septiembre en 5.837 millones de libras (6.887 millones de euros), un 17% más »
Source: Barclays
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2,750 EUR million
Barclays profit in the third quarter of 2026
Barclays, third quarter of 2026
« En el tercer trimestre, el beneficio fue de 2.300 millones de libras (unos 2.750 millones de euros), un 12% más que un año antes »
Source: Barclays
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12 %
Growth in Barclays profit in the third quarter
Barclays, third quarter of 2026, compared with the previous year
« En el tercer trimestre, el beneficio fue de 2.300 millones de libras (unos 2.750 millones de euros), un 12% más que un año antes »
Source: Barclays
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201 GBP million
Costs of structural cost-reduction measures in the third quarter
Barclays, third quarter of 2026
« La entidad indicó que asumió 201 millones de libras en medidas estructurales de reducción de costes durante el tercer trimestre »
Source: Barclays
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60 %
Share of job cuts affecting support functions (including software developers)
Barclays, 2026
« alrededor del 60% de los recortes afectará a empleados de funciones de apoyo, como desarrolladores informáticos »
Source: Barclays
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12 %
Fall in the Barclays share price since the start of the year
Barclays, since 1 January 2026
« En lo que va de año, los títulos del banco acumulan una caída del 12% »
Classification
- Country
- United Kingdom
- Company size
- Large companies
- Industries
- Banking, insurance, asset management, finance departments
- Companies
- HSBC (cited), Quilter Cheviot (cited), Barclays (deploys AI), Microsoft (cited)
- Keywords
- job cuts, banking, automation, software developers, cost reduction, banking industry
Entry written by Marsanne Studio from the cited article, with the help of an AI model (claude-sonnet-5). The rights to the article and its illustrations belong to Cinco Días and its author. Entry translated from French by Claude Sonnet 5.5.