Barclays is latest to redirect spending toward AI as it trims its workforce

The cost of building out the infrastructure needed to satisfy booming demand for artificial intelligence is changing the way major companies allocate resources. That can mean an end to some jobs once done by humans. Yet in many cases it means repurposing money once spent on workers so that more capital can be devoted to boosting AI capabilities.

Just how much money is being spent on AI is a hot topic as fears of a bubble in the sector grow, but the potential impact on workers in some sectors is clear.Here's a look at some of the companies that have announced layoffs or hiring reductions this year that are tied in some way to massive spending on AI.BarclaysThe U.K. bank and financial services company revealed in a quarterly financial report this week that it is looking to cut 5,000 jobs, or about 5% of its workforce.The company said that it was seeking “organisational simplification and technology change efficiency driven by AI.” Approximately 60% of the cuts will be from support functions, including developers.Financial institutions are among the most active in deploying AI, in many cases at the expense of workers. Norway's DNB and Commerzbank in Germany have also announced job cuts in parallel with a push into AI.KrogerKroger said last week that it will lay off 3,000 corporate employees over the next three years as the national grocery chain ramps up its use of artificial intelligence.“Technology is reshaping what’s possible,” CEO Greg Foran wrote in a memo to employees.

“The way work gets done is changing across every industry; we must adapt and take advantage of technology. We need to adopt capabilities, reduce duplicative work and look closely at where work is best fit to be done.”Kroger last month outlined its AI strategy, meant “to improve the customer experience, make work easier for associates and produce better business outcomes.”The Cincinnati company is the largest standalone U.S. supermarket chain with 409,000 employees and more than 2,700 stores operating under various brands, including Ralphs, King Soopers, Smith’s and Fred Meyer.MetaThe company that runs Facebook and Instagram said it would lay off about 8,000 workers, or about 10% of its workforce, as it continues to ramp up spending on artificial intelligence infrastructure and highly paid AI-expert hires.The company said in April that it was making the cuts for the sake of efficiency and t…

Here’s a look at some of the companies that have announced layoffs or hiring reductions this year that are tied in some way to massive spending on AI. The company said that it was seeking “organisational simplification and technology change efficiency driven by AI.” Approximately 60% of the cuts will be from support functions, including developers. Financial institutions are among the most active in deploying AI, in many cases at the expense of workers.

Kroger Kroger said last week that it will lay off 3,000 corporate employees over the next three years as the national grocery chain ramps up its use of artificial intelligence. “Technology is reshaping what’s possible,” CEO Greg Foran wrote in a memo to employees. Meta The company that runs Facebook and Instagram said it would lay off about 8,000 workers, or about 10% of its workforce, as it continues to ramp up spending on artificial intelligence infrastructure and highly paid AI-expert hires.

The company said in April that it was making the cuts for the sake of eff…