Barclays is cutting 400 jobs from its corporate banking division, adding to the similar number of people axed by its investment bank this week as Chief Executive Antony Jenkins wields a cost-cutting knife.
The bank cut 3,700 jobs last year.
Nordea Bank AB (NDA) will need to cut more than the 2,500 jobs already axed to adjust to slow growth, as Scandinavia’s biggest bank focuses on increasing rewards to shareholders, Chief Executive Officer Christian Clausen said. “Exactly how we’re going to do this thing is not that clear,” Clausen said today in an interview in … Continue reading »
Lloyds Banking Group plans to axe 1,080 jobs and outsource more than 310 roles as part of a continuing overhaul of the business Continue reading »
Rabobank Group, a Dutch lender, is planning to cut between 1,000 and 2,000 jobs in the next several years, as part of a strategy to trim down costs by 2016. Rabobank CEO Ralf Dekker was quoted by NL Times as saying “Operating from within a central organization with lower overhead, makes it better, faster, and … Continue reading »
Banks, insurers, asset managers and other finance firms cut 25,000 jobs in the final quarter of 2012, with banking seeing the deepest drop, the survey of 94 companies showed. The cuts will means about 132,000 jobs have been lost in the sector since the downturn began in 2008, when it employed around 1 million people, … Continue reading »
Britain’s four biggest banks will have cut a quarter of their staff worldwide by the end of this year from peak staffing levels of 2008. Thousands of jobs are targeted as British banks centered in LIBOR rigging and insurance mis-selling scandals continue to cut costs. Royal Bank of Scotland, HSBC, Lloyds and Barclays will employ … Continue reading »
Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over. Citigroup Inc. (C)’s announcement yesterday of plans to eliminate 11,000 positions in units spanning equities trading to consumer banking is the latest sign of strain from a market slowdown, stiffer … Continue reading »
New York’s biggest investment houses are shifting jobs out of the area and expanding in cheaper locales in the United States, threatening the vast middle tier of positions that form the backbone of employment on Wall Street. The shift comes even as banks consider deeper staff cuts here, which could undermine the state and city … Continue reading »
The financial services jobs market continues to struggle as the sector loses almost 1000 jobs a month to more cost effective offshore hubs, such as Asia and New Zealand Continue reading »
Canada-based Bank of Montreal (BMO) has eliminated nearly 1,000 jobs during the fourth quarter of current fiscal, as part of its strategy to trim down operational cost and boost efficiency. BMO chief operating officer Frank Techar was quoted by The Canadian Press as saying, “We did see a big reduction in the head count.” “For … Continue reading »
UniCredit Bank Austria will cut up to 850 jobs in Austria as part of a plan to slash 130 million euros ($176 million) in administrative costs, it said on Thursday, blaming rising state burdens in a saturated market. Austria\’s bank levy delivers a 97 million euro annual hit and additional costs from new regulatory requirements … Continue reading »
Deutsche Bank has announced that it will generate over 700 jobs in Dublin over the coming yearsContinue reading »
Commerzbank AG (CBK), the German lender that plans to cut 5,200 jobs by 2016, said two executives will leave its management board as part of the reductions Continue reading »
Bank of America Corp is looking to cut 3,000 mortgage jobs before the end of the year Continue reading »
Layoffs at Bank of America Corp’s mortgage business will amount to about 2,100 positions, a source told Reuters on Monday, in response to weak refinancing activity. The downsizing reflects the second-largest U.S. bank’s “ongoing efforts to streamline our facilities and align our cost structure with market realities,” Bank of America said in a statement in … Continue reading »
Nationalised Spanish lender Catalunya Banc plans to lay off 2,453 workers, nearly a third of its workforce, under a eurozone bailout deal for Spain’s banks, a union source said on TuesdayContinue reading »
Bank of Cyprus aims at reducing the workforce by 1,200 to 1,500 people Continue reading »
Royal Bank of Scotland (RBS.L) said on Thursday it would cut jobs in a restructuring of its investment bank, which a source familiar with the matter said would see about 2,000 jobs go. Chosen excerpts by Job Market Monitor via RBS axes 2,000 jobs in shake up of investment bank | Reuters.