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via uk.finance.yahoo.comBusiness & Companies

Barclays to cut 5,000 jobs replaced by AI

FROM THE WIRE · UK.FINANCE.YAHOO.COM

Barclays is to cut 5,000 jobs that will be replaced by AI in one of the biggest tech-driven employment culls yet seen in the UK. The bank said that it had already removed 60pc of its costs in supporting roles in the first half of the year, which included many developers whose…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralLarge AI-linked job cuts with cost savings above target at a major UK bank.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Barclays is to cut 5,000 jobs that will be replaced by AI.
  2. 02The bank achieved £600m in cost savings against a £300m target.
  3. 03In its UK bank, savings rose to £158m so far this year.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Barclays PLCBARC.LSEStock418.80 GBp-0.62%today -0.10%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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