Barclays to cut about 5,000 jobs worldwide by end‑2026, citing AI‑driven modernisation

Barclays will eliminate roughly 5,000 positions – about five percent of its global staff – by the close of 2026, with AI central to its restructuring plan.

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Barclays said it will remove around 5,000 roles, representing roughly five per cent of its worldwide workforce, by the end of 2026.

The bank confirmed that 1,000 positions have already been closed, with a further 4,000 slated for termination before the 2026 deadline.

Barclays attributes the cuts to its modernisation programme, highlighting artificial intelligence as the “icing on the cake” of its strategy to streamline operations.

The majority of the reductions will affect the UK retail banking division, while a significant share of back‑office roles supporting UK operations are expected to be eliminated in India.

Barclays noted that not every job loss is directly caused by new technology, but the scale of the programme reflects confidence that AI tools can replace many administrative and programming tasks.

Industry observers, including the BBC, say Barclays is joining other major banks such as HSBC, Standard Chartered and Danske Bank, which have also announced AI‑linked workforce reductions this year.

The announcement is described as the final phase of a three‑year cost‑reduction plan that has been targeting expense trimming within the UK retail segment.