Iran says seven ships hit near Hormuz as US and Israel reportedly plan post-midterm strikesAramco evacuates headquarters and US pulls diplomats as Houthi strikes on Saudi Arabia intensifyRussia strikes Kyiv after Witkoff-Putin talks as Ukrainian drones target MoscowEbola reaches Nigeria as WHO warns of a more complex outbreakOil climbs to five-month high as global stocks fallMillions of exploit attempts follow AI-found PHP flaws as sites return onlineFrench risk premium hits euro-crisis levels as borrowing costs pass USDeath toll passes 150 after drone strike on Abyei marketTrilateral Ukraine talks eyed for November as Witkoff's Putin remark angers alliesMagnitude 7 earthquake kills at least 16 in northern TibetFrance bans non-union protests ahead of Saturday demonstrationsLula accepts Bolsonaro's terms for record disclosure before Brazil run-offAI debt worries weigh on markets as Meta credit risk hits recordTaiwan and China prepare as Super Typhoon Champi approachesIsrael's race stays tight as Netanyahu courts right-wing votersExperts expect Meta to fight $25bn New Mexico penalty on appealIsrael frees nine settler suspects to house arrest as UN calls West Bank violence out of controlSerbia's student list rallies in Belgrade as campaign closes before Sunday's voteNorth Korea to restart border propaganda broadcasts as tensions riseDeepSeek reportedly raises $15bn as TSMC seeks rare-earth workaroundsGermany arrests Ukrainian man suspected of spying for RussiaItalian truckers ease fuel-price protests as government lines up aidTrump asked Musk to lift Starlink limits in Ukraine, as Rubio says access is Musk's callTesla profit falls as analysts debate SpaceX mergerProtests in Indonesia demand action as haze blankets Southeast AsiaAnkara rejects Greek and EU criticism of Libya maritime dealAfghanistan-Pakistan conflict turns to proxy groups after eight monthsICC wins EU Sakharov Prize while under US sanctionsIndonesia moves to shore up markets ahead of MSCI index changeRetail investors fully subscribe Jio Platforms IPOQatar, Turkey, Pakistan and Indonesia sign defence industry pactNestlé removes Russian business from accounts after Kremlin takeoverAlbanian lawmakers scuffle in parliament as street protests continueNATO agency to let Ukraine buy weapons through its procurement systemAung San Suu Kyi speaks to son for first time in over five yearsIsraeli fire kills four in Gaza as hospitals face fuel and medicine shortagesBarclays to cut 5,000 jobs as it steps up AI adoptionIran says seven ships hit near Hormuz as US and Israel reportedly plan post-midterm strikesAramco evacuates headquarters and US pulls diplomats as Houthi strikes on Saudi Arabia intensifyRussia strikes Kyiv after Witkoff-Putin talks as Ukrainian drones target MoscowEbola reaches Nigeria as WHO warns of a more complex outbreakOil climbs to five-month high as global stocks fallMillions of exploit attempts follow AI-found PHP flaws as sites return onlineFrench risk premium hits euro-crisis levels as borrowing costs pass USDeath toll passes 150 after drone strike on Abyei marketTrilateral Ukraine talks eyed for November as Witkoff's Putin remark angers alliesMagnitude 7 earthquake kills at least 16 in northern TibetFrance bans non-union protests ahead of Saturday demonstrationsLula accepts Bolsonaro's terms for record disclosure before Brazil run-offAI debt worries weigh on markets as Meta credit risk hits recordTaiwan and China prepare as Super Typhoon Champi approachesIsrael's race stays tight as Netanyahu courts right-wing votersExperts expect Meta to fight $25bn New Mexico penalty on appealIsrael frees nine settler suspects to house arrest as UN calls West Bank violence out of controlSerbia's student list rallies in Belgrade as campaign closes before Sunday's voteNorth Korea to restart border propaganda broadcasts as tensions riseDeepSeek reportedly raises $15bn as TSMC seeks rare-earth workaroundsGermany arrests Ukrainian man suspected of spying for RussiaItalian truckers ease fuel-price protests as government lines up aidTrump asked Musk to lift Starlink limits in Ukraine, as Rubio says access is Musk's callTesla profit falls as analysts debate SpaceX mergerProtests in Indonesia demand action as haze blankets Southeast AsiaAnkara rejects Greek and EU criticism of Libya maritime dealAfghanistan-Pakistan conflict turns to proxy groups after eight monthsICC wins EU Sakharov Prize while under US sanctionsIndonesia moves to shore up markets ahead of MSCI index changeRetail investors fully subscribe Jio Platforms IPOQatar, Turkey, Pakistan and Indonesia sign defence industry pactNestlé removes Russian business from accounts after Kremlin takeoverAlbanian lawmakers scuffle in parliament as street protests continueNATO agency to let Ukraine buy weapons through its procurement systemAung San Suu Kyi speaks to son for first time in over five yearsIsraeli fire kills four in Gaza as hospitals face fuel and medicine shortagesBarclays to cut 5,000 jobs as it steps up AI adoption
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Barclays AI job cuts

Where things stand

Barclays said on Thursday it will cut around 5,000 jobs, roughly 5% of its global workforce, by year-end as it steps up AI adoption. The Guardian reports quarterly profit up 12%, while the Financial Times says the result missed City expectations.

Barclays is a major British bank with a global workforce. Like other large lenders, it is under pressure to cut costs and is turning to artificial intelligence to automate work, which puts jobs at risk.

Timeline in detail

Friday, 23 October 2026Economy

Barclays to cut 5,000 jobs as it steps up AI adoption

Barclays said on Thursday it will cut around 5,000 jobs, roughly 5% of its global workforce, by the end of the year in an AI efficiency drive. It reported £2.3bn in pre-tax profit for July to September and profits up 12%, according to The Guardian, but the Financial Times says the result fell short of City expectations.