Barclays and Natwest signal start of banking’s AI job squeeze
Barclays and NatWest announced job cuts totaling 6,400, citing AI-driven efficiency gains. Barclays aims to save £1.1bn by 2027, while NatWest reported £420m in annual savings. Both banks emphasized AI's role in operational changes. Morgan Stanley predicts 400,000 AI-driven job losses in European banking. Lower interest income and cost-cutting pressures are driving these measures.






