After the deterioration of the economic situation around the world, the American banks are also preparing to terminate jobs on a large scale, in view of which it has been decided to release thousands of employees from the banks.
According to the American newspaper Financial Times, there is pressure on banks to reduce costs after the decrease in investment, and those employees who were not fired during the Corona epidemic will also fall under this wave.
The report in the US newspaper said that the top executives of the banks are under a lot of pressure to cut costs after the fall in investment.
Banks have begun the process of cutting more than 15,000 jobs in recent months.
Anna Ursov, co-head of global banking at Moody’s, said she expects this phase of job cuts to be less severe than during the financial crisis.
He added that European franchises are also seeing cuts, but the volume will be smaller than the layoffs at American banks.