Barclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs
The move is the latest illustration of a company saying it believes it can be more efficient with fewer workers because of artificial intelligence.
Summary from New York Times
How 5 outlets are covering it
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Al JazeeraWhy is the UK at the forefront of AI-driven job cuts?
AI-linked job losses in the UK are running at twice the rate of US and Germany.
Read on Al Jazeera -
New York TimesBarclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs
The move is the latest illustration of a company saying it believes it can be more efficient with fewer workers because of artificial intelligence.
Read on New York Times -
The GuardianBarclays cuts 5,000 jobs as profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live
UK bank says 1,000 job cuts already done with a further 4,000 to go before year end, driven by advances in AI, described as ‘icing on the cake’ by Barclays boss You be the chancellor: play our…
Read on The Guardian -
BBCBarclays cutting 5,000 jobs as it increases reliance on AI
The bank says it is using more AI leading to a 5% reduction in its workforce.
Read on BBC -
CNBCBarclays to slash 5,000 jobs in AI efficiency push
U.K. banks Barclays said Thursday it plans to cut 5,000 staff, citing efficiency savings from AI.
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The GuardianBarclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances
Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profits Business live – latest updates Barclays is cutting 5,000 jobs as part of wider…
Read on The Guardian
