The British banking group Barclays is set to cut, by the end of the year, about 5,000 employees, i.e., 5% of its workforce. It cites the use of artificial intelligence (AI), which allows it to become more efficient. This plan is the latest example to date of institutions announcing massive job cuts linked to this technology.
- Barclays will cut about 5,000 jobs by year end, citing artificial intelligence.
- Most of these cuts affect support functions, such as banking product developers.
- HSBC plans 20,000 cuts within five years, and Standard Chartered plans to eliminate 15% of its staff.
- French banks have announced no AI-related job cuts so far.
Barclays plans a reorganisation of its teams
According to the group, about 60% of these job cuts affect what are called “support” functions, notably developers of banking products such as loans, insurance or investments. Barclays does not hide that AI will lead it to a deep reorganisation. The bank says this technology makes its teams more productive and speaks of “organizational simplification”.
Barclays, which employed 93,000 people worldwide at the end of last year, nevertheless reports strong results. In the third quarter (July‑September 2026), its net profit rose by 13% to 2 billion euros. According to management, this profit is explained by the performance of its analysts and financial advisers, aided by artificial intelligence.
Other institutions affected, France so far spared
Barclays is not the only institution adjusting its workforce thanks to AI. HSBC, also British and operating in 80 countries, plans to cut 20,000 employees within five years. Still in the United Kingdom, Standard Chartered intends to eliminate 15% of its staff by the end of the decade.
In France, the situation is different for now. BNP Paribas, Société Générale and Crédit Agricole announce no departure plans due to artificial intelligence. However, these large institutions have concluded partnership agreements with major sector players such as Mistral or Anthropic, without a direct impact on employment officially announced at this stage.
