Barclays to cut 5,000 jobs this year in AI drive, reveals profit growth of 12%

Summary

Barclays revealed profit growth of 12% after around £200 million worth of cost savings in the third quarter, the Evening Standard and The Independent reported on Thursday 22 October. Barclays is cutting 5,000 jobs, 5% of its workforce, as part of efforts to save costs and drive efficiency through investment in artificial intelligence, Sky News reported, and its employees totalled around 93,000 globally at the end of 2025, according to the Evening Standard, which called the cuts a huge blow to the City. Some of the job cuts have already been made and the others are expected by the end of this year, the Manchester Evening News reported, and The Scotsman reported Scottish job fears, quoting Richard Hunter of Interactive Investor: 'The UK banks have an additional hurdle to overcome in the form of the imminent Budget'.

Latest: Barclays revealed profit growth of 12% after around £200 million of cost savings in the third quarter and is cutting 5,000 jobs this year, about 5% of its employees, as AI makes the bank more efficient, the Evening Standard, The Independent, Sky News, the Manchester Evening News and The Scotsman reported.

Written automatically by an AI from the articles' headlines and descriptions. It can contain errors: follow the links to read the articles.