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UK's AI-driven job cuts double rate of US and Germany; Barclays plans to axe 5,000 jobs by end of 2026
AI-linked job losses in the UK are running at twice the rate of the US and Germany. Barclays plans to axe 5,000 jobs by the end of 2026 as it turns to artificial intelligence (AI) to cut costs. The bank’s chief executive has described AI as the “icing on the cake” of that effort, but unions accuse the bank of using AI as an excuse to reduce its workforce.
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