# Barclays CEO Says Bank Will Apply AI at Scale Amid 5,000 Total Cuts By John Kim Canonical URL: https://www.tokenpost.com/news/business/39199 Published: 2026-10-23T18:29:34.000Z Updated: 2026-10-23T18:29:34.000Z Section: Business > The total includes 1,000 positions eliminated in the first half of 2026, with about 60% of the planned reductions in support functions. Barclays CEO C.S. Venkatakrishnan said the bank would apply artificial intelligence at scale as it pursues a workforce reduction totaling 5,000 positions, including cuts already made this year. The target represents about 5% of Barclays’ workforce. About 60% of the planned reductions are in support functions, including developer roles. The total includes 1,000 positions eliminated in the first half of 2026. Venkatakrishnan compared AI with frosting on a cake, describing it as an addition to the bank’s work. The workforce target is part of Barclays’ [2026 reduction plan](), which also involves changes to technology and operations. Barclays announced a cost-reduction plan in February. Some investors reacted negatively to the cost level shown in its half-year results. HSBC is considering as many as 20,000 job cuts over the next few years, while Standard Chartered plans to reduce support positions by at least 15% by 2030. ## Links in this article - [2026 reduction plan](https://www.tokenpost.com/news/business/38213)