Imagine the internal celebration for a technology program that makes a bank simpler by removing about 5,000 people. Keep the invitation list flexible.
CNBC reports that Barclays plans cuts equal to roughly 5 percent of its workforce, with about 60 percent in support functions, including developers. Its earnings presentation describes technology change and simplification driven by AI.
The ideal corporate computing project now seems to have two deliverables: working systems and fewer people needed to work on them. If the farewell email can write its own replacement, management should add that to next year’s target.
The bank’s quarterly pretax profit rose 12 percent to £2.3 billion. Group income came in below analysts’ expectations. Evidently there are two kinds of disappointing number, and only one of them has to pack a bag.
Management can now look forward to a leaner organization. Everyone remaining can look forward to discovering what those support functions supported.
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