U.S. banks are expected to make the largest staff cuts in history
In the next decade, the U.S. banking sector will experience the most reduction in the U.S. banking sector in the next decade. will reach 10%. This warns Wells Fargo Bank analyst Mike Mayo, whose words are cited by The Financial Times. Over the past 10 years, the number of employees in the banking industry has not show significant changes, being close to the level of 2 million people. However, going forward, as banks have reacted to changes in the economy as a result of the spread coronavirus, the situation will change. The reductions will particularly affect staff bank branches and call centers, employees of cash registers, believes the expert. His point of view corresponds to the forecast of the Labor Ministry United States, according to which the number of staff in the banking sector fall by 15%. Most of the branches that were closed by banks due to the pandemic, will not reopen, said Mayo. Those that will continue to operate, the number of employees will decrease.