Barclays announced it will cut approximately 5,000 positions by the close of 2026, representing around five percent of its global workforce of about 93,000 employees recorded at the end of last year.

The bank has already removed 1,000 roles in the first half of 2026, with a further 4,000 cuts expected before the year ends.

Most of the affected jobs are in operational and support functions, including software development roles, as the group expands its use of artificial intelligence and other technologies to automate work.

Barclays Group Chief Executive CS Venkatakrishnan linked the reductions to years of investment in technology, stating the bank will keep modernising its systems and simplifying processes.

He described AI as a key element of the bank’s future, calling it “the icing on the cake” rather than the core foundation of the efficiency drive.

The job reductions are part of a three‑year programme aimed at cutting costs, boosting performance and strengthening the bank’s technology infrastructure.

Barclays reported structural savings of about £600 million – roughly twice its original target – as it accelerated cost‑saving measures this year.

The cuts were disclosed alongside third‑quarter profit figures of £2.3 billion, a 12 percent increase over the same period last year.

Industry observers note that the move reflects a broader trend of businesses adopting AI and automation, raising questions about the impact on employment across sectors, though the specific effect on African banking jobs remains uncertain.