Company 'positioning itself for the future' as it adjusts for AI
It's still unclear if Barclays' Isle of Man operations will be affected by plans to cut around 5,000 jobs in the group as it adjusts to the era of AI.
Barclays is reportedly looking to shed around 93,000 jobs globally as part of an ongoing cost savings and modernisation programme.
It's expected to save around £1 billion in 2027.
In a statement to Manx Radio, the bank stresses that the 5,000 jobs relate to the company's global operations.
Around 60 percent of the group activities relate to support functions, a significant number of which are in based India.
Furthermore, as AI becomes more effective fewer developers are required.
The statement says the company's positioning itself for the future, building the workforce and skills needed to deliver its strategy and meet the evolving needs of customers and clients.
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