http://www.businessinsider.com/r-western-banks-axed-59000-jobs-last-year-more-cuts-to-come-in-europe--2015-3
Over the past year, western banks have been cutting employees like crazy. Many lenders have decided to cut employees due to the rising concerns of regulators that these banks have become too big and complex. Many analysts believe that banks in the euro-zone will continue this trend because they are continually the most unprofitable banks in the world. Another factor that has lead to the amount of jobs being cut is the shift to an online and mobile banking system. However, this shift to digital banking and more efficient processing is expected to add pressure for the banking employees in the upcoming years. It will be interesting to see how this affects the financial jobs market in the next couple of years.
1 comment:
I think it definitely raises a big concerns in how some of the banks have become quite complex but I dont think it's justified cutting that much employments over a year. Perhaps it is more of a reactionary trend seeing how volatile the banking sectors have been this past year more than anything.
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