Barclays is undertaking significant layoffs within its investment bank as part of a cost-cutting strategy and a broader restructuring plan, including the "Project Minerva" initiative. It started from 2024 and will run through 2025.
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Feels like it man. If trading activity weakens or credit costs rise, it could be a major headwind. There is 10+ AI projects that are being worked on, if successful, headcount will go down. I think they will need up to two years to sort this out and then there will be a major cut.