Financial giant to eliminate thousands of jobs. Instead of people, it focuses on AI

Barclays has already eliminated around 1,000 jobs, with an additional 4,000 expected by year-end, primarily affecting operational and support roles. The layoffs are part of a three-year cost-cutting program focused on retail banking in the UK, which will also impact investment banking. Savings from job reductions will be invested in technology to enhance efficiency. The bank's Q3 results showed a profit of £2.3 billion, higher than last year but slightly below forecasts.