RecentAI-driven layoff plans at banks

“Barclays has revealed it is cutting five percent of its workforce – 5,000 people – and blaming crediting AI for it, even as it turns in a quarterly profit of £2.3 billion, up 12%.”

Meanwhile:

“ABN AMRO which announced plans to axe 5,200 jobs by 2028 and cited AI as the reason this would be possible without impacting service levels” and “Standard Chartered bank where the plan is to nuke 7,500 jobs and replace ‘lower-value human capital’ with AI by 2030.”

🔗 How “Barclays-onomics” adds up – profits up 12% to £2.3 billion, workforce down five percent to cut costs. AI is the icing on the cake, it seems…