Barclays plans to lay off 5000 employees and increase AI applications On October 23rd, according to Yonhap News Agency, global investment bank Barclays plans to cut 5000 positions, accounting for about 5% of the company's total positions, while expanding the application of artificial intelligence, including 1000 positions already cut in the first half of this year. 60% of the layoff targets come from support departments such as developers. Barclays CEO Venkat Krishnamurthy stated during a conference call that the company will be implementing AI on a large scale, stating that "AI is not a cake, but rather the icing on the cake." Previously, Barclays announced a cost cutting plan in February, but some investors responded negatively to the cost scale shown in its semi annual report. In terms of peers, HSBC is considering cutting up to 20000 positions in the coming years, and Standard Chartered plans to cut support department positions by more than 15% by 2030.