EconomyBarclays to cut 5,000 jobs as it expands use of AI

Barclays plans to reduce its workforce by about 5,000, or 5% of its global staff, by the end of the year. The cuts are focused on its UK retail bank, with a significant share expected in India, where some UK back-office work is handled. The bank said the changes form part of an ongoing modernisation plan involving greater use of AI.