2020 review: A year which saw fintechs cut jobs, pay & business arms
A number of fintechs have still been tested during COVID-19, some to the brink of collapse.
A number of fintechs have still been tested during COVID-19, some to the brink of collapse.
This year has seen several job cut announcements.
US lender plans big infrastructure changes in the final months of the year.
We have just six months to prepare for the new work environment – let’s be strategic about our upskilling options.
Layoffs, branch closures and cuts to third-party spending are on the table.
The major US bank is looking at a strategic overhaul.
It also signalled its intention to move more of its workforce to Texas.
London-headquartered bank releases Q1 earnings with stark warning for Europe.
FinTech Futures’ weekly coronavirus news wrap.
“Because of the extraordinary impact of the COVID-19 pandemic,” says Noel Quinn.
FinTech Future’s weekly news round-up.
Top of the list is Michael Ronen, the managing partner of the Vision Fund’s US investments.
The global bank is aiming to cut costs and weed out loss-making divisions.
Significant job cuts expected over the next three years, according to CEO.
One in four jobs in its equities sales and trading business to go.
Also looking to cut costs and may relocate its client business out of UK in response to Brexit.
The Wall Street Journal reports the firm is looking to make its mortgage process more automated.
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)?
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
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 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 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 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.
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.