Barclays is cutting 5% of its workforce, or 5,000 jobs, citing efficiency gains from artificial intelligence, according to Fast Company. The bank says 1,000 positions have already been eliminated, with another 4,000 to follow by year-end. Many of the affected roles are in development and support functions.
This signals a shift in skills demand for major banks and insurers, with AI changing the structure of roles and required expertise. Senior executives should review workforce planning and consider how to upskill or redeploy staff as automation expands in regulated sectors.
