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Barclays to Cut 5K Jobs, AI Trade Stumbles After Tech Earnings

Bloomberg Markets22 October 2026, 11:04 UTCPeople's Republic of China

Barclays said it’s cutting 5,000 jobs as part of an effort to reduce costs, adding that artificial intelligence is starting to create efficiency. That would affect about 5% of the bank’s employees, according to a presentation on Thursday. Barclays employed about 93,000 people globally at the end of 2025. Stocks fell as megacap earnings failed to reassure investors about the rebound in the artificial intelligence trade, Chinese equities neared a bear market and escalating Middle East tensions drove oil prices higher. The Opening Trade has everything you need to know as markets open across Eu

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Shenzhen ComponentStock marketPeople's Republic of China22 October 2026, 08:29 UTC
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