World’s biggest investment banks plan to cut 30000 employees - FT
YEREVAN, AUGUST 12, ARMENPRESS. The largest investment banks of the world are planning to cut nearly 30,000 employees due to reduction in transaction volumes, decrease in interest rates and the rapidly growing pace of automation, Financial Times reported.
HSBC Great Britain, Barclays, Societe Generale, Deutsche Bank and the American Citigroup have already announced the intentions.
“It is obvious that prospects for revenues from banking-investment services are getting more and more difficult,” Berenberg Bank’s equity analyst Andrew Lowe said.
Edited and translated by Stepan Kocharyan
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