Barclays plans to cut about 5,000 jobs, roughly 5 percent of staff, mostly in support work that includes software development, as it uses more AI. Third-quarter pretax profit was £2.3 billion, up 12 percent, and still missed estimates.
The number, and the caveat
The bank is linking the cuts to a wider use of AI. A plan to cut roles is not a count of jobs a model has already replaced.
The profit line is separate. £2.3 billion was higher than a year earlier and below what analysts expected.
Someone in a support or engineering seat at a large bank who wants the figure and the function, not a slogan about AI taking work.