American Express and Barclays Announce Job Cuts in Financials
American Express and Barclays disclosed a combined reduction of about 8,500 roles in Financials during Oct. 23–24, 2026.
American Express Company and Barclays Services Corporation disclosed workforce reductions in the Financials sector during October 23–24, 2026, totaling about 8,500 roles.
Lede
On and around October 23, 2026, two major Financials firms announced plans for sizable job cuts: American Express Company revealed plans affecting roughly 3,500 employees and Barclays Services Corporation outlined reductions of about 5,000 roles. The disclosures were published alongside company announcements and media reports covering third-quarter results and cost-saving initiatives.
Reported layoffs
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American Express Company said it will reduce its global workforce by approximately 3,500 positions, or about 5% of its staff, in a restructuring designed to simplify operations and accelerate strategic priorities. The company disclosed the moves alongside its third-quarter results on October 23, 2026, and said restructuring expenses would be partly funded by proceeds from the sale of its stake in Global Business Travel Group, according to Eurasia Business News, Yahoo News New Zealand and KOA 850 AM & 94.1 FM.
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Barclays Services Corporation announced plans to cut roughly 5,000 jobs, about 5% of its workforce, as part of a company-wide effort to reduce fixed costs and improve returns through greater use of artificial intelligence. Global Banking & Finance Review, CNBC and Firstpost reported that about 1,000 of the 5,000 roles had already been eliminated, with the remaining cuts expected by the end of 2026; the bank framed the reductions in the context of third-quarter results and weaker fixed-income trading performance.
Both companies described the reductions as global in scope; neither filing provided a departmental breakdown or a detailed location-by-location timetable in the initial reports.
Closing
Collectively the reported actions account for about 8,500 job cuts in the Financials sector during the October 23–24, 2026 window, based on company disclosures and media reports and WARN-style reporting cited above. Each company noted the reductions in connection with recent quarterly results and cost-management measures.