Barclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs
Published . Updated .
The move is the latest illustration of a company saying it believes it can be more efficient with fewer workers because of artificial intelligence.
Directly affected
- BCS Barclays-13.8%
Named in this report.
Indirectly affected
- SPY SPDR S&P 500+1.6%
The broad U.S. stock market
- TLT iShares 20+ Year Treasury Bond-1.8%
Long-term U.S. government bonds
- QQQ Invesco QQQ+2.3%
Large technology stocks
- GLD SPDR Gold Shares-3.3%
Gold can move with the broad market
Price reaction, T-5 to T+3
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The move is the latest illustration of a company saying it believes it can be more efficient with fewer workers because of artificial intelligence.
Source: The New York Times
This story
12 out of 100
“Barclays to Cut 5,000 Jobs in A.I.-Driven Push to Lower Costs” scores 12 out of 100. The score uses 1 sources.