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American and European banks canceled 59 thousand jobs in 2014

American and European banks canceled 59 thousand jobs in 2014

 

American and European banks canceled 59 thousand jobs in 2014
American and European banks canceled 59 thousand jobs in 2014

Canceled a prominent European and American banks 59 thousand jobs last year, in the context of measures to restructure and cut costs.

It is expected to lay off more staff in Europe, in an effort of the heads of the banks to improve profitability, which were badly damaged due to the tightening of regulatory procedures.

As banks sold or closed business activities in order to avoid falling under penalty of regulators, who is concerned about inflation, some banks.

Analysts said that it was likely that European banks repeated, especially those in the euro zone, such measures because they are still less banks in the world in order to achieve profits.

Said Ayman Saleh, Managing Director of Boston Consulting group in London, said that the majority of banks made some tactical austerity measures and appropriate to reduce costs, “but without that change substantially true and the way they operate or work in the model.”

And trimmed 18 banks from Europe’s biggest bank, and 21,500 jobs in the last year overall, but this was less than half the jobs that dispensed by the same banks in 2013 and numbered 56100 and function.

Cut six of the largest US banks 37,500 jobs in the last year total, compared to 45 700 jobs in 2013.

This means that dispense more than 160 thousand jobs in the 24 banks during the last two years.

Six US banks and dispensed with 7.3% of the staff during this period, compared with 4.1% for Europeans.

Have been laid off tens of thousands of employees during and after the financial crisis between 2007 and 2009, but a new wave of cuts swept the banking industry in 2013 with the decline in trading income and a slowdown in economic growth.

Anthony Jenkins, chief executive of Barclays last week and said, “I am convinced more than ever before that in a world where it is difficult to achieve growth will continue to cost battlefield strategy for our sector in the coming years.”

Canceled Barclays 7300 jobs last year, under Jenkins plan that will last three years for dispensing 19 thousand employees, or one out of every seven employees, providing more than 2.4 billion pounds ($ 3.6 billion) a year.

Conducted banks in the United States, Britain, Italy and Spain last year, the largest demobilization operations. Axed RBS ten thousand employees, and may be dispensed with more selling activities abroad and reduce his bank investment even more.