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Financial job losses

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  • Monday, 25 September, 2023
    News in-depthAccounting & Consulting services
    Big Four shed UK staff after pandemic hiring boom

    ‘Overhiring’ in some areas has led consultancies to make job cuts, say recruiters and analysts

    Montage of commuter in London, EY, Pwc, KPMG and Deloitte
  • Thursday, 7 September, 2023
    Goldman Sachs Group
    Goldman plans new job cull for bankers deemed underperformers

    Cuts under annual ‘strategic resource assessment’ scheme expected to be at lower end of range

    Goldman sign on a building
  • Wednesday, 19 July, 2023
    US banks
    Wall Street banks spend more than $1bn on severance costs amid sharp job cuts

    Executives pay steep price to unwind overexpansion during Covid-19 pandemic

    A Wall Street outside the New York Stock Exchange in Manhattan
  • Friday, 16 June, 2023
    US banks
    Wall St bank job cuts set to surpass 11,000 as CEOs unwind hiring binge

    Executives try to reverse pandemic recruitment spree that propelled headcounts to record highs

    A Wall Street sign in New York
  • Wednesday, 14 June, 2023
    Citigroup Inc
    Citigroup job cuts set to hit 5,000 in first half of 2023

    Chief financial officer says US debt ceiling stand-off knocked trading business in second quarter

    A Citibank branch in San Francisco
  • Thursday, 1 June, 2023
    Goldman Sachs Group
    Goldman warns of new job cuts in ‘tougher environment’ on Wall Street

    President John Waldron says bank on track to hit or exceed a $600mn payroll savings target

    John Waldron
  • Tuesday, 30 May, 2023
    Goldman Sachs Group
    Goldman weighs another round of job cuts as dealmaking drought persists

    Wall Street bank considers eliminating fewer than 250 employees after making deeper reductions earlier in the year

    A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange
  • Thursday, 25 May, 2023
    JPMorgan Chase & Co
    JPMorgan to cut 1,000 First Republic employees

    Dismissals follow government-orchestrated takeover of California-based bank

    People walk outside a First Republic branch
  • Monday, 1 May, 2023
    Morgan Stanley
    Morgan Stanley plans to cut another 3,000 jobs

    Latest round of reductions comes as Wall Street adjusts to extended dealmaking slump

    A street sign stands near the Morgan Stanley worldwide headquarters building in New York
  • Friday, 21 April, 2023
    Deloitte LLP
    Deloitte to cut 1,200 jobs in the US

    Big Four firm the latest to respond to slowdown in advisory business

  • Tuesday, 21 March, 2023
    European banks
    Who killed Credit Suisse?

    The legality of liquidity versus solvency

  • Thursday, 16 March, 2023
    US banks
    Investors have wiped $165bn of value from big US bank stocks this month

    Shareholders are worried about lower profits and more regulation after collapse of Silicon Valley Bank

    New York Stock Exchange tickers
  • Friday, 3 February, 2023
    Big tech
    Big Tech groups disclose $10bn in charges from job culls and cost cutting

    Amazon, Meta, Alphabet and Microsoft reveal hefty price tag as they rein in spending

    Logos of amazon, alphabet, meta and apple
  • Wednesday, 1 February, 2023
    Investment Banking
    Goldman to fund meagre payouts to banks hammered by Archegos collapse

    Lenders that lost billions will get back as little as 5 cents on the dollar from restructuring

    The building that housed the Archegos offices in the Midtown neighborhood of New York
  • Saturday, 21 January, 2023
    Banks prepare for deepest job cuts since the financial crisis

    Firings expected to be ‘super brutal’, with Credit Suisse, Goldman Sachs and Morgan Stanley already laying off staff

    Worker at a window of Goldman Sachs building
  • Friday, 20 January, 2023
    Deutsche Bank AG
    Deutsche Bank slashes investment banker bonuses but rewards traders

    Dealmaker pool to fall 40% in line with Goldman but a bigger drop than most rivals

    Deutsche Bank’s headquarters in Frankfurt
  • Tuesday, 17 January, 2023
    Silvergate Bank
    US bank Silvergate sinks to $1bn loss as crypto crisis takes a toll

    Lender braced for ‘sustained period of lower deposits’ even as its faith in digital asset industry remains intact

    Logo for Silvergate bank
  • Saturday, 14 January, 2023
    Credit Suisse Group AG
    Credit Suisse set to cut 10% of European investment bankers

    Swiss lender steps up wave of job cuts as it prepares to announce second consecutive annual loss

    A clock is seen near the logo of Credit Suisse at the Paradeplatz square in Zurich, Switzerland
  • Wednesday, 11 January, 2023
    Goldman Sachs Group
    Goldman Sachs makes ‘brutal’ job cuts in quest for lower costs

    Group pays some bankers no bonus for last year’s work while giving others 30 minutes to leave

  • Wednesday, 11 January, 2023
    BlackRock Inc
    BlackRock plans to cut 500 jobs worldwide following 2022 sell-off

    World’s largest asset manager to shed staff as industry braces for tough 2023

    The BlackRock logo outside of its offices in New York
  • Tuesday, 10 January, 2023
    Goldman Sachs Group
    Goldman embarks on biggest cost-cutting drive since financial crisis

    Wall Street bank reviews spending on everything from private jets to new consumer and tech unit

    People walk by the headquarters of Goldman Sachs in Manhattan
  • Tuesday, 10 January, 2023
    Coinbase
    Coinbase to slash a fifth of workforce as crypto crisis deepens

    Cryptocurrency exchange will cut 950 jobs to ensure it can ‘weather downturns’ in the market

    Coinbase logo
  • Monday, 9 January, 2023
    Goldman Sachs Group
    Goldman prepares to cut 3,200 jobs to rein in costs

    Wall St bank scaling back consumer operations and confronting slowdown in investment banking

    Goldman Sachs chief executive David Solomon
  • Thursday, 29 December, 2022
    Goldman Sachs Group
    Goldman’s David Solomon says job cuts to come in January

    Investment bankers who survive cull could face bonus reductions of 40% or more

    Office workers walk near the Goldman Sachs headquarters in New York
  • Friday, 16 December, 2022
    US banks
    Goldman Sachs prepares to lay off almost 4,000 employees

    Chief executive David Solomon is trying to boost profitability amid economic headwinds

    Goldman chief David Solomon
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