India, Oct. 22 -- British bank Barclays Plc has announced plans to cut 5,000 jobs, or about 5% of its total workforce, as part of a wider effort to reduce costs and improve efficiency using technology and artificial intelligence (AI). According to Barclays' third-quarter earnings statement, the bank is focusing on simplifying its organisation and making its operations more efficient.

About 60% of the planned job cuts will affect support functions, including developers. Barclays had already cut around 1,000 jobs during the first six months of 2026. The remaining cuts are expected to take place before the end of the year. According to Bloomberg, Barclays employed around 93,000 people globally at the end of 2025.

Barclays Chief Executive O...