bankingupdate

🏦 Global Banks Gear Up for 200,000+ Job Cuts — A Multi-Year Transformation

Major banks in the U.S. and Europe are quietly planning a long-term workforce reduction, with over 200,000 roles expected to disappear in the coming years. The shift is driven by automation, cost efficiency, and digital-first operations.
The process isn’t new — 61,905 jobs were cut in 2023 — but the next phase is broader and more strategic. Citigroup is eyeing ~20,000 job cuts by 2026, while UBS, Deutsche Bank, and Goldman Sachs signal similar moves, mainly in back-office operations, branch networks, and parts of investment banking where revenue growth is uneven.
Leadership frames this as a planned efficiency overhaul, not a crisis. Banks remain profitable but are leaning into tech investments that reduce manual work in compliance, customer support, and operations.
Markets remain steady, viewing cuts as margin protection and a sign that banks are adapting rather than breaking.
Key Insight: Banking is evolving — fewer employees, more software-driven workflows, and a move away from traditional branch-heavy models. 🧩

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🚨 BREAKING $ACT
Big shift from the Fed! They’ve rolled back their 2023 guidance that blocked crypto banks from joining Fed networks. 🏦💥

Not a full greenlight 🚦, but a clear move toward responsible crypto innovation.

$EPIC $GHST

#FED #CryptoNews #MarketShift #BankingUpdate