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Banks brace for biggest job cuts since 2015

Bloomberg
Bloomberg12/27/2019 03:29 PM GMT+08  • 2 min read
Banks brace for biggest job cuts since 2015
(Dec 27): Banks around the world are unveiling the biggest round of job cuts in four years as they slash costs to weather a slowing economy and adapt to digital technology.
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(Dec 27): Banks around the world are unveiling the biggest round of job cuts in four years as they slash costs to weather a slowing economy and adapt to digital technology.

This year, more than 50 lenders have announced plans to cut a combined 77,780 jobs, the most since 91,448 in 2015, according to filings by the companies and labour unions. Banks in Europe, which face the added burden of negative interest rates for years to come, account for almost 82% of the total.

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