Global financial institution Barclays is eliminating 5,000 positions as it integrates artificial intelligence into its operations. This move represents approximately 5% of its total global workforce. Concurrently, Australian bank Westpac is also reducing its staff by around 250 roles this month. Westpac attributes these job losses to evolving investment priorities and changing customer needs, not AI implementation. These announcements follow similar large-scale layoffs at other major Australian banks like NAB.
https://www.nine.com.au/world-news/global-bank-slashes-5000-jobs-layoffs-continue-at-aussie-lenders-20261023-p617z3.html