Barclays plans 5,000 job cuts in AI-linked cost push

Barclays plans to cut 5,000 jobs, roughly 5% of its workforce, CNBC reports. The bank links the reductions to organizational simplification and AI-driven technology changes intended to lower costs and create capacity for investment. Sky News reports around 1,000 roles have already been cut, with the rest due by the end of 2026. It says Barclays had not specified where across its global operations the losses would fall.