Barclays expects to announce a new cut of 200 jobs in its investment banking area, which will be added to the headcount adjustment of 5,000 positions announced just three weeks ago, linked to its strategy of betting on technologies such as AI.
According to sources consulted by the Bloomberg agency, the bank will begin this new round of layoffs on Tuesday, affecting professionals at different levels and categories, with a special impact on offices in New York and London.
In the presentation of third-quarter results, on October 22 last, Barclays had already outlined its plan to carry out a “structural reduction in the cost base” with the aim of freeing up resources for new investments, relying on the cut of around 5,000 jobs through the use of technology.
Barclays’ chief financial officer, Anna Gross, then recalled that, in the last two fiscal years, the firm has achieved annual gross savings close to 700 million pounds (835 million euros).
“This was our forecast for the 2026-2028 period. After having increased it only for 2026, we expect gross savings of more than 1.1 billion pounds sterling (1,311 million euros) in 2027. These measures involve a planned reduction of approximately 5,000 full-time employees,” she said.