Barclays: Automation leads to job cuts


The transformation to more automation at all levels will take a toll on the workforce at Barclays. The CEO recently said that the bank could reduce the workforce by 40,000, out of a total of 140,000 as more automated processes take hold.  Customers-facing processes are of course ripe for automation, but so are many back-office functions. Most banks are well down this transformation curve and it's hard to pin down exactly how many jobs will be lost. All banks are under pressure to prove that they are holding the line on expenses. Article

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