Barclays plans to cut approximately 5,000 jobs based on AI efficiency
BCS Barclays plc ADR
$22.01 -2.61%
View chart & analysis → - 1Barclays plans to reduce approximately 5,000 jobs, about 5% of its workforce, based on AI efficiency.
- 2Barclays announced that pre-tax profit for the third quarter increased by 12% to 2.3 billion pounds.
- 3Barclays announced a new share buyback of up to 500 million pounds.
So what's the key point?
Barclays has decided to reduce its staff by 5,000 people using artificial intelligence. The company is seeing positive news as profits have increased and it is buying back its own shares.
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