2020 review: 10 largest bank job cuts this year
This year has seen several job cut announcements.
Job Cuts
Citigroup restarts job cuts after coronavirus pause
US lender plans big infrastructure changes in the final months of the year.
The time for reskilling is now: how to go about it in a post-pandemic world
We have just six months to prepare for the new work environment – let’s be strategic about our upskilling options.
Wells Fargo resumes job cuts after pandemic break
Layoffs, branch closures and cuts to third-party spending are on the table.
Wells Fargo mulls job cuts amid loan losses
The major US bank is looking at a strategic overhaul.
Fintech start-up Synapse cuts 50% of full-time staff
It also signalled its intention to move more of its workforce to Texas.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
COVID-19: Weekly wrap
FinTech Futures’ weekly coronavirus news wrap.
HSBC delays ‘vast majority’ of redundancies amid COVID-19
“Because of the extraordinary impact of the COVID-19 pandemic,” says Noel Quinn.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
Top executives at SoftBank’s $100bn Vision Fund set to leave
Top of the list is Michael Ronen, the managing partner of the Vision Fund’s US investments.
HSBC plans new restructure with France and USA in firing line
The global bank is aiming to cut costs and weed out loss-making divisions.
Wells Fargo plans to cut 26,500 jobs
Significant job cuts expected over the next three years, according to CEO.
Deutsche Bank to cut 7,000 jobs
One in four jobs in its equities sales and trading business to go.
Deutsche Bank to axe 500 investment banking jobs
Also looking to cut costs and may relocate its client business out of UK in response to Brexit.
SoFi reportedly cutting 65 jobs from mortgage division
The Wall Street Journal reports the firm is looking to make its mortgage process more automated.
But what about the human cost of automation?
New research from recruitment agency Robert Half has outlined the jobs which are under threat from automation, but when are we actually going to talk seriously about the dark side of artificial intelligence (AI)?
Top fintech stories this week – 21 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
70% of jobs in developing markets under threat from AI – report
A new report from the International Bar Association has outlined the risks and rewards of artificial intelligence (AI), which while bordering on scaremongering also makes some good points.
Standard Chartered to shed corporate and institutional banking jobs
Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount. The job cuts will start in Hong Kong and Singapore and will eventually affect all major business hubs of Standard Chartered.
Thomson Reuters to shed 2,000 jobs across finance, risk, tech and ops
Thomson Reuters is set to cut 2,000 jobs globally, taking a Q4 charge of $200-250 million as it aims to “streamline its business”. The restructuring will affect 4% of the Thomson Reuters global workforce across 39 countries and 150 locations.
Lloyds slashes another 940 jobs as cuts deepen
Lloyds Banking Group is to cut 940 more jobs, the latest in a series of savage headcount culls at major financial institutions. Separate announcements earlier this week confirmed 200 human resources jobs would be axed, and a further 175 cuts made in the Halifax branch network.
Headcount cull claims investment bankers
As job cuts continue to bite at some of the world’s largest banks and financial institutions, new figures from Bloomberg Industries reveal the scale of the cull driven by lacklustre macroeconomic performance in Europe, a declining stock market and tightening financial regulation.
