# Barclays to cut about 5,000 jobs as it leans more on AI

Business & Markets · 22 October 2026 · London, United Kingdom
URL: https://connectthedots.news/event/2026-10-22-barclays-to-cut-about-5-000-jobs-as-it-leans-more-on-ai

> Barclays said it will cut about 5% of its global workforce, mostly in support roles, as it uses AI to reduce costs; the Unite union accused it of using AI as an excuse.

Barclays said on 22 October it is cutting about 5,000 jobs, around 5% of its global workforce, with its third-quarter results. About 1,000 posts have already gone and the remaining 4,000 cuts are expected by the end of 2026, according to the BBC. [1][2]

The cuts focus on the UK retail bank, and about 60% fall in support functions, including developers. Some UK back-office work is done in India, where many of the job losses are expected. Barclays expects its efficiency measures to save a further £1.1bn in 2027. Not all of the cuts are due to AI, the BBC noted. [1]

Group chief executive C. S. Venkatakrishnan said AI "has an important role to play" but called it "the icing on the cake not the cake". Barclays reported a £2.3bn profit for the three months to September, higher than a year earlier but slightly below forecasts. [1]

Sharon Graham, general secretary of the Unite union, said the bank was "using AI as an excuse to discard its loyal and long-suffering workforce". Analysts described AI-linked job cuts as a hot-button issue for banks. [1]

## Who was involved

- [Barclays](https://connectthedots.news/org/barclays): Announced about 5,000 job cuts tied to AI-driven efficiency [1][2]
- [C. S. Venkatakrishnan](https://connectthedots.news/person/c-s-venkatakrishnan): Said AI has an important role but is "the icing on the cake" [1]
- [Unite the Union](https://connectthedots.news/org/unite-the-union): Criticised the cuts as using AI as an excuse [1]
- [Sharon Graham](https://connectthedots.news/person/sharon-graham): Accused Barclays of using AI to discard its workforce [1]

## Sources

1. BBC (via Yahoo Finance), "Barclays cutting 5,000 jobs as it increases reliance on AI", 22 October 2026: https://ca.finance.yahoo.com/news/barclays-cutting-5-000-jobs-080100639.html
2. Bloomberg, "Barclays to Cut 5,000 Jobs as AI Drives Cost Reduction Effort", 22 October 2026: https://www.bloomberg.com/news/articles/2026-10-22/barclays-to-cut-5-000-jobs-as-ai-starts-creating-efficiency