NatWest cut about 1,000 jobs in the quarter as its chief calls AI "pervasive"

NatWest cut about 1,000 full-time roles in the third quarter, bringing this year's reductions to 1,400, and booked about £420 million of savings, PA reported Friday. Chief executive Paul Thwaite said AI is "pervasive across the organisation and it is too often framed in quite a narrow way around efficiency." The bank's Cora assistant handled 52,000 credit-card customer issues, and an AI fraud-triage is live.

NatWest's own results release does not mention headcount or tie the cuts to AI; the link comes from Thwaite's remarks. Its profit is reported three ways, as £1.5 billion attributable, £2.2 billion operating before tax, and £1.7 billion in a third account, because they are different measures. SourcesA B

Sources

AQ3 2026 NatWest Group Results (NatWest Group)natwestgroup.com
BNatWest efficiency drive results in job cuts and £420 million of cost savings (Irish News, PA)irishnews.com

This story ran in the Morning Brief of October 30th 2026.

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