Barclays plans to cut 5,000 jobs in AI-driven efficiency push

Barclays plans to eliminate about 5,000 positions by the end of 2026, a reduction equal to roughly 5% of its workforce, according to reports from Reuters, AFP and Dow Jones.

The bank had completed about 1,000 of the cuts during the first half of 2026, with approximately 4,000 more planned during the rest of the year. About 60% of the reductions involve support functions, including developer roles.

The workforce changes are part of an efficiency program tied to organizational simplification and technology adoption. Barclays has linked the cost-reduction effort to the use of artificial intelligence across the bank.

Barclays is also expanding Anthropic’s Claude assistant across its operations for software development, modernization of older systems and operational efficiency. More than 16,000 Barclays employees had adopted Claude, and the bank expected Claude Code to be used by half of its developers by the end of 2026.

Barclays said it remained on track to meet its financial targets for 2026 and 2028. The research does not specify which countries or business units will bear the cuts, or how the reductions will affect individual employees.