Barclays said in a quarterly report that it is looking to cut 5,000 jobs, about 5% of its workforce. About 60% of those cuts sit in support functions, including developers, and the bank described the effort as simplification and technology change driven by AI.
In February, Jack Dorsey told shareholders that Block will shrink from around 10,000 employees to 6,000 because the company's AI tools are speeding the work. CBS News carried the letter in May, in a piece on companies pointing to AI as they cut jobs.