Banks Worldwide Announce the Firing of 50,000 Employees Since the Beginning of 2019

Mubasher: Banks around the world have cut more than 48,500 jobs since the beginning of the year, which coincides with the weak economic situation.

A report released Thursday by the Bloomberg agency, according to which the loss of jobs in banks around the world was attributable to European banks, with lingering negative effects of negative interest rates on banks. profits.

Deutsche Bank tops the list with a plan to cut 18,000 jobs, or nearly 20% of its workforce, until 2022.

Spanish bank Santander has announced the layoff of 5.4,000 employees and British banks "HSBC" and Barclays have announced the reduction of 4,000 and 3,000 jobs, respectively.

UniCredit has announced a cut of 10,000 jobs, according to the agency which quotes familiar figures with the subject, noting that these figures have not been included in the total so far.

The report indicates that the number of job cuts in the banking sector this year in the world will probably be higher than this overall result, as some banks have already taken this step without revealing the overall impact.

On: Friday – August 16, 2019

Mubasher: Banks around the world have cut more than 48,500 jobs since the beginning of the year, which coincides with the weak economic situation.

A report released Thursday by the Bloomberg agency, according to which the loss of jobs in banks around the world was attributable to European banks, with lingering negative effects of negative interest rates on banks. profits.

Deutsche Bank tops the list with a plan to cut 18,000 jobs, or nearly 20% of its workforce, until 2022.

Spanish bank Santander has announced the layoff of 5.4,000 employees and British banks "HSBC" and Barclays have announced the reduction of 4,000 and 3,000 jobs, respectively.

UniCredit has announced a cut of 10,000 jobs, according to the agency which quotes familiar figures with the subject, noting that these figures have not been included in the total so far.

The report indicates that the number of job cuts in the banking sector this year in the world will probably be higher than this overall result, as some banks have already taken this step without revealing the overall impact.