Business & Markets — October 22, 2026

Barclays cuts 5,000 jobs. The British bank will cut about 5% of its workforce, including developers, saying AI tools are making its employees more productive.

Business Insider frames the reduction as a significant data point in the ongoing debate over artificial intelligence's effect on employment, in part because the cuts extend to software developers, a role often seen as central to technology work. The bank attributed the decision to productivity gains from AI tools rather than citing other factors, according to the outlet's reporting.

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Meta plans nonvoting share class. Meta announced a new class of non-voting stock to fund its AI buildout without diluting Mark Zuckerberg's control. The move came alongside strong Q3 results and 10 million Muse users.

According to The Verge, the structure lets Meta raise capital for its artificial intelligence spending while preserving the chief executive's voting power, since the new shares carry no votes. The announcement arrived in a position of strength: the company paired it with third-quarter earnings the outlet described as strong and disclosed that its Muse product has reached 10 million users.

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Tesla Q3 profit falls 43%. Tesla reported a 43% profit decline on flat Q3 revenue, confirmed Optimus robot production has begun in California, and said Cybercab sales will start by year-end.

TechCrunch attributes the earnings decline to sharply rising expenses as the company accelerates spending on robotics, artificial intelligence and autonomous driving, even as sales held steady. The results position the automaker's near-term finances against its longer-range bets: humanoid robot manufacturing is now underway in California, and the company set a year-end target for beginning sales of its Cybercab.

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