Barclays plans to eliminate approximately 5,000 jobs by the end of 2026 to reduce operating costs. This significant workforce reduction is part of a broader strategy to streamline operations and leverage technology. The majority of these cuts will affect support functions, including software development roles. The announcement coincided with the bank's third-quarter financial results, which showed increased profit but missed market expectations. These measures reflect a growing trend among financial institutions to enhance efficiency amid economic uncertainty.
London, England
https://www.firstpost.com/tech/barclays-layoffs-bank-plans-to-cut-5000-jobs-by-year-end-to-reduce-costs-14054576.html