9 November 2026 · 5 slides
Photo: HOK
2 · What happened
Profit up 12%. Headcount down 5,000. Reason given: AI.
On 22 October Barclays reported pre-tax profit of £2.3 billion and said it will cut about 5% of its workforce, citing “technology change efficiency driven by AI”. Six in ten of the roles are in support functions.
Photo: via Instagram
3 · The number
4,800 retrenchments in Singapore in the third quarter, the highest since 2020
The Ministry of Manpower blames “business reorganisation” and “rapid technological change”, not AI. The cuts cluster in information & communications, finance and manufacturing.
Photo: HOK
4 · The pattern
Sixty thousand Microsoft staff got an offer to leave.
Microsoft offered voluntary exits to about 27% of its workforce on 26 October, expecting under 5% to accept. US employers blamed AI for only 1,265 of 43,994 October job cuts. The tool enables; the boss decides.
Photo: source
5 · Bottom line
Move your people up the chain before someone else does.
The roles going first are the ones a tool can do. List them in your company, then retrain those people onto the work that needs judgement, relationships and your business's own knowledge.
Photo: costar.com