This is Future of Banking System || 20 million to lose Jobs
#futureofbank #futurebanking #bankingfuture\n\nThis is Future of Banking System || Safe Payments to Bank Jobs || how is future banks ||This is Future of Banking System \n\nAbout video:\nWhen was the last time you went to bank \nNow a days everyone are sending money through online and receiving online\nAnd if you need a loan , then bank employee will come to your home ,\nIf all your banking services are done in finger tips , then what is the use of banks \nAnd what will happen to banks employees in future ?\n\nFor the next 3 minutes im going tell you 3 facts on how future of banking will be ,\nIf you are an employee or customer of bank then this video is for you ,\n\n\nPlease subscribe our channel and support us .\nhttps://www.youtube.com/channel/UCCFXm7OMYrkhCc4Ykvr3nMw\nThank You..\n\nFollow us :\n\nhttps://www.facebook.com/tofactdesk/\n\nMy Fb page : https://www.facebook.com/imsaiprakash/\n\nTwitter: https://twitter.com/tosaiprakash\n\nInstagram: https://www.instagram.com/im_saiprakash\n\nfuture of banking, future of banking industry, future of banking technology 2020,future bank, future banking technology ,This is Future of Banking System
Banks announced the reduction of 60 thousand jobs in 2019
Bloomberg reported on Tuesday that the total number of job cuts announced by banks in 2019 has grown to nearly 60 thousand..
Commerzbank said it plans to cut 4.3 thousand jobs as a result of restructuring, which began three years ago. This brought the global total number of bank layoffs to 58.2 thousand..
About 90% of these positions were liquidated in Europe, where the economy is slowing down and banks are struggling with negative interest rates. Commerzbank, Deutsche Bank, HSBC and Santander cut thousands of jobs around the world.
German banks have announced the largest job cuts. Deutsche Bank tops the list, announcing in July that it will cut 18,000 jobs by 2022 as part of a $ 8.3 billion capital cost cut. Cutbacks are coming among stock traders, market research and derivatives trading as the bank divested of its investment banking division.
Outside Germany, lenders in Spain, the UK and France also cut jobs to boost profitability.
The need for profit support arises against the backdrop of globally low interest rates designed to stimulate slowing economic growth. The US-China trade war is responsible for much of this slowdown..
Meanwhile, American banks are on a roll, while German banks are in serious crisis. JPMorgan has received billions of assets from top-tier hedge funds that were once clients of Deutsche Bank. Morgan Stanley, Goldman Sachs, Bank of America and Citigroup have also benefited from European peers’ troubles.