Barclays cutting 5,000 jobs as it increases reliance on AI

[Ali_Baba]

Barclays cutting 5,000 jobs as it increases reliance on AI​

Barclays 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.

www.bbc.co.uk

The banking group said 1,000 posts had already been closed and it expects a further reduction of 4,000 to be complete by the end of this year, amounting to around 5% of its global workforce.

The bank's cost reductions are focused on its UK retail bank, but some back office functions for the UK are done in India, where a significant proportion of the job cuts are expected to fall.

And, so it begins. India will be affected by Ai, in a bad way.

 

[Sainthood 2.0]

Barclays cutting 5,000 jobs as it increases reliance on AI​

Barclays 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.

www.bbc.co.uk

And, so it begins. India will be affected by Ai, in a bad way.

Doubt - they'll cut jobs in the West by AI and outsource the rest to India and the Philippines
Only about 20% of the original high-paying senior management-level jobs will remain in the West.