Bank Job Cuts Approach 60,000 This Year



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Posted by Ed 3 mths ago
Job cuts announced by banks this year are approaching 60,000, almost all of them in Europe, where negative interest rates and a slowing economy prompt lenders including Germany’s Commerzbank AG to step up cost reductions.
 

Commerzbank said last week it plans to eliminate 4,300 positions, deepening a restructuring that started three years ago. That brings the total disclosed this year to about 58,200, with roughly 90% of those cuts in Europe.
 
 
https://www.bloomberg.com/news/articles/2019-09-24/bank-job-cuts-approach-60-000-as-commerzbank-plans-to-swing-ax?srnd=premium-asia


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