Bloomberg Opinion: UK finance shows how AI may hit jobs (opens the source in a new tab)
- The column says UK firms reported net staff cuts of about 8% due to AI in 2025, double the average in four other rich economies, with the lowest hiring rate in the survey.
- Job adverts have fallen most in roles exposed to AI, such as accountants, analysts and finance back-office work, and HSBC plans to cut UK advisers by nearly 70%.
- Towns such as Swindon and Bournemouth, home to bank and insurer back offices, could feel it first.
- 8%
- net AI staff cuts, UK firms 2025
- ~70%
- HSBC UK adviser cut planned
Why it matters Back-office finance work is routine and easy to track, and it is concentrated in a few towns, so it is where AI’s job effect may show first.
Other side Pandemic over-hiring and remote work may explain part of the slowdown, firms retrain more staff than they cut, and AI exposure is often still theoretical.