Barclays to cut 5,000 jobs as bank's bosses hail AI productivity advances

Barclays' strong performance included a 6% rise in net interest income at its UK retail banking operations, to £2bn. Barclays' strong performance included a 6% rise in net interest income at its UK retail banking operations, to £2bn. Barclays to cut 5,000 jobs as bank's bosses hail AI productivity advances Barclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI. The job cuts will mean losing about 5% of the bank's 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year. The bank's chief financial officer, Anna Cross, told reporters on Thursday that the job cuts were part of plans to save more than £1.1bn in 2027.