Barclays will cut 5,000 jobs by the end of this year as it pushes to replace staff with artificial intelligence.
The lender, which reported another profit surge last quarter, said there had already been 1,000 roles axed, with a further 4,000 planned by the end of the fourth quarter.
The job losses form part of a growing shift in the banking sector towards the technology in a bid to cut costs.
Earlier this month, HSBC was reported to have been readying for a ‘brutal’ jobs cull in its wealth management division.
Barclays, which is nearing the end of a three-year cost-cutting drive, said the cuts
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