Barclays to cut 5,000 jobs this year
FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM
Barclays is cutting around 5,000 jobs, or 5% of its workforce, this year as it deploys technology, including artificial intelligence, to reduce fixed costs and improve returns. Chief financial officer Anna Cross said 1,000 job cuts have already been completed, with another 4,000…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishTechnology-driven cost cuts can improve the bank's returns.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Barclays is cutting around 5,000 jobs, or 5% of its workforce.
- 02CFO Anna Cross said 1,000 cuts have already been completed.
- 03Another 4,000 are expected by the end of the fourth quarter.