EconomyBarclays to Cut 5,000 Jobs as AI Trade Stumbles After Tech Earnings

Barclays said it plans to eliminate 5,000 jobs to reduce costs, adding that AI is beginning to deliver efficiencies. The cuts would affect about 5% of its workforce, according to a Thursday presentation; the bank had about 93,000 employees worldwide at the end of 2025. Stocks fell as megacap earnings failed to reassure investors about the AI trade’s rebound, Chinese equities neared a bear market and Middle East tensions escalated.