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Barclays to slash 5,000 jobs in AI-powered cost-cutting drive

LONDON: Barclays said it would cut around 5,000 jobs or 5% of its workforce this year, as it uses technology such as AI to slash fixed costs and improve overall returns.

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巴克莱银行将在人工智能驱动的成本削减计划中裁员5000人

A pedestrian walks past a branch of a Barclays bank in central London on July 29, 2020. —(Photo by Tolga AKMEN / AFP)

LONDON: Barclays said it would cut around 5,000 jobs or 5% of its workforce this year, as it uses technology such as AI to slash fixed costs and improve overall returns.

The job cuts were revealed as Barclays reported third-quarter profit of £2.3 billion ($3.08 billion), up from a year ago but undershooting analysts' forecasts as its fixed income trading business underperformed.

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