Recent News and Discussions About Banking Layoffs
Wall Street layoffs likely ahead as two-year hiring boom turns …
https://www.cnbc.com/2022/06/27/wall-street-layoffs-are-coming-as-deals-boom-turns-to-bust-insiders-say.html
Jun 27, 2022 — Banks hired thousands of employees during the pandemic deals boom. They will have to start laying some off soon.
Layoffs | American Banker
https://www.americanbanker.com/tag/layoffs
Wells Fargo cut more than 700 commercial banking jobs as it embarks on workforce reductions that could ultimately number in the tens of thousands, according to …
Wells Fargo launches new round of home-lending layoffs
https://www.bankingdive.com/news/wells-fargo-launches-new-round-of-home-lending-layoffs/626758/
Jul 7, 2022 — The bank’s home mortgage division is based in Des Moines — meaning the job cuts most likely mark a continuation of a cull Wells Fargo began …
Bank of America Layoffs – TheLayoff.com
https://www.thelayoff.com/bank-of-america
Messages relating to layoffs at Bank of America are presented below the company info. Company information: Industry/Area of Activity: Banks ; Company Stock …
Latest Wells Fargo News: Layoffs, Hiring Scrutiny, Mortgage …
https://www.businessinsider.com/latest-wells-fargo-news-hirings-layoffs
Jun 28, 2022 — It’s also faced scrutiny over lending and hiring practices. Here’s the latest on what’s happening at the bank , and how its CEO is changing its …
Job cuts are rolling in as recession fears rise – NPR
https://www.npr.org/2022/06/29/1108109505/job-cuts-layoffs-economy-recession
Jun 29, 2022 — There is a growing fear that as the central bank aggressively hikes interest rates to fight high inflation, it could tip the U.S. economy …
Wall Street bank layoffs expected after capital markets drop off
https://seekingalpha.com/news/3852167-wall-street-bank-layoffs-expected-after-capital-markets-drop-off-cnbc
Jun 27, 2022 — After two years of hiring staff to handle elevated deal activity during the pandemic, Wall Street banks may soon be faced with cutting …
A Long List of Mortgage Layoffs, Mergers, and Closures
Bank of America – closed home lending office in Marlton, NJ, 136 layoffs . Bank of America – cut 1,000 mortgage jobs in Ohio, closing offices in Beachwood, …
Mortgage Layoffs Surge As Rising Rates Crush Lending Activity
https://www.forbes.com/sites/davidwestenhaver/2022/06/23/mortgage-layoffs-surge-as-rising-rates-crush-lending-activity/
Jun 23, 2022 — Mortgage rates have risen to their highest number since the 2008 housing crisis. St. Louis Fed. Layoffs are often much worse at non- bank lenders …
Layoffs Watch ’22: JPMorgan Chase, Wells Fargo – Dealbreaker
https://dealbreaker.com/2022/06/jpmc-wells-mortgage-layoffs
Jun 23, 2022 — Wells Fargo & Co., the biggest mortgage lender among US banks , has also been laying off and reassigning employees in its home-lending division….
Frequently Asked Questions
How do you know if a layoff is coming?
- Dire earnings reports or missed revenue goals. This should be at the top of your early warning list. …
- Executives leaving in droves. …
- Risky pivots or strategic gambles. …
- Hiring freezes. …
- Bad press. …
- Budget cuts. …
- Your boss is being shady.
Is Bank of America downsizing?
Is investment banking on the decline?
What are three alternatives layoffs?
- Reduce your workweek. Going from a five-day workweek to a four-day workweek reduces payroll by 20 percent, Zickerman noted. …
- Extend time off. …
- Challenge employees to save money. …
- Offer sabbaticals. …
- Swap employees or lend them to another company. …
- Look to your peers for help.