Title: Barclays Cuts 5,000 Jobs Amid AI Push
Content: Barclays plans to axe 5,000 jobs this year, approximately 5 percent of its workforce, as the UK bank accelerates AI adoption across operations. Developers bear the brunt of the cuts, with about 60 percent of reductions in support functions. The bank had already cut 1,000 jobs in the first half of 2026 as part of a broader restructuring involving technology investments. Chief Executive CS Venkatakrishnan stated AI is "the icing on the cake not the cake," emphasizing that technology enhances rather than replaces human roles. Barclays invested £307 million in the overhaul during the first nine months of the year and anticipates an additional £300 million in restructuring costs by year-end 2026. The job reductions follow broader industry fears that AI adoption will enable smaller workforces. The FT reported earlier this month that HSBC was planning similar cuts in its UK wealth management division. Barclays reported £2.3 billion in pre-tax profits for the third quarter, a 12 percent increase year-on-year, though the figure fell short of analysts' expectations of £2.42 billion. Revenues climbed only 3 percent to £7.4 billion. The investment bank's fixed income division saw profits drop 19 percent, while equities income surged nearly 50 percent, driven by prime brokerage and derivatives. Operating costs rose 6 percent, reflecting business growth and higher performer payments.
出典: Financial Times Companies · 要約：HeadlinesBriefing