The British bank is turning to artificial intelligence and other digital tools to reduce fixed expenses and improve shareholder returns.
• The planned reductions represent roughly 5% of Barclays’ global workforce and are expected to take place during the year.
• The bank says technology will help streamline operations, automate routine work and lower its ongoing cost base.
• The cuts form part of a broader effort to improve efficiency and strengthen returns across the business.
• Barclays is among major financial institutions investing heavily in artificial intelligence, even as the technology raises questions about the future of office-based roles.
• The restructuring reflects growing pressure on banks to deliver stronger performance while managing higher operating costs and rapidly changing customer expectations.