Barclays Announces 5,000 Job Cuts and Q3 Financial Results

Barclays announced a plan to cut 5,000 jobs, about 5% of its global workforce, to enhance efficiency through artificial intelligence, with 1,000 reductions already made in the first half of 2026. The bank reported third-quarter income of 3.13 billion pounds, a 1.5% increase, but its pretax profit fell 4% short of consensus estimates. Additionally, Barclays initiated a 500 million pound share buyback program, which was below the anticipated 579 million pounds, while reaffirming its financial targets for 2026 and 2028.