Barclays expects to cut around 5,000 full-time roles, roughly 5% of its workforce, through its 2026 structural cost programme. Its third-quarter results presentation links the changes to organisational simplification and technology efficiencies driven by AI.
About 60% of the reductions associated with second-half restructuring actions are expected in support functions, including developer roles. The bank says the workforce reductions remain subject to collective and individual consultation where required.
The programme is intended to lower recurring costs and create room for investment. Barclays now expects its 2026 restructuring actions to generate more than £1.1 billion in gross savings in 2027, compared with the £700 million projected in February.
The bank is also expanding its Claude rollout. An October 1 announcement set a target of Claude Code reaching half its developers by year-end. Claude already helps process about 120,000 daily emails in Global Markets, according to Anthropic.
The announcement adds a workforce dimension to the debate over enterprise AI returns. Earlier Citi research covered by AIstify found nearly 60% of surveyed organisations remained in exploration or pilot stages, while 40% had reached production or scaling.
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