Commenting on today's announcement from Barclays on the loss of 5000 jobs worldwide, Unite general secretary Sharon Graham said:

“Barclays workers deserve better than this. The company is using AI as an excuse to discard its loyal and long-suffering workforce.

“Employers should be focussed on upgrading employees' skills so that they remain employed as new technology changes the workplace. Instead, Barclays is guilty of taking a short-term, kneejerk approach. Unite is working with its members to find the best way forward to reset this destructive announcement.”

Unite recognises the need to embrace new technologies as industries evolve. However, these changes must never come at the expense of good, meaningful, skilled jobs. The introduction of new technology must happen with workers, not to workers.

Unite’s role is to keep workers' voices at the forefront of this change. Unite, particularly within the finance sector, has spent years establishing AI and technology agreements that protect jobs and working conditions. These frameworks ensure that jobs remain meaningful, retain human oversight, prevent algorithmic decision-making, and guard against discrimination. Technology must benefit workers, not replace them.

Improved efficiencies cannot just be used to pad profits or cut jobs; workers must share in the benefits of new technology. Such protections can only be secured through collective bargaining

Unite national officer for finance Rick Coyle said: "Unite is engaging in urgent and frank negotiations with Barclays. We will also be offering support and guidance to our members at this difficult time.

"Barclays needs to put measures in place to upskill and adapt workers for new technology and that includes AI. As part of the Financial Service Skills Compact it should not be cutting jobs."