News Topic: Layoffs

In some cases bankers' willingness to close branches and cut staff is a testament to their company's strength. ... Read full article

The number of fintech startups has declined rapidly; several banks are using customer data to help customize retail offers. ... Read full article

The charter may provide greater confidence for digital currency investors; bank expects to make large-scale job cuts in its global banking and markets unit. ... Read full article

Division is making progress, helped by a rise in branded credit cards; about 200 bankers in agriculture and energy lending let go in recent months. ... Read full article

A federal judge says the agency can’t issue national bank charters to fintechs; Facebook’s CEO will state his case at a House hearing. ... Read full article

The Ohio company, scheduled to report third-quarter results Thursday, blamed the decision on the squeeze interest rates are putting on revenue. ... Read full article

The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans. ... Read full article

Europe would feel the brunt of the reductions, which would affect about 4% of the bank's global workforce. ... Read full article

Santander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network. ... Read full article

A Fed-led working group may pressure Wall Street to adopt SOFR; challenger banks with smartphone-based accounts soar. ... Read full article

Powell sees need to "keep firms on their toes" while Quarles wants easier tests; €52 million paid to leaving execs nears total paid to board. ... Read full article

“Limited” digital-asset broker spots mat be approved; Linda Lacewell’s plans for the New York State Department of Financial Services. ... Read full article

Stress tests, capital buffers and liquidity levels are best ways to make financial system safe; HSBC plans to layoff “several hundred” from investment bank. ... Read full article

The 65 people laid off in late February is only the beginning, report says; Bank of America CEO also tackles mortgages, the economy and gender issues. ... Read full article

The company will shutter the offices it inherited when it bought EverBank in 2017 and focus on lending to existing customers through digital channels. U.S. Bank will assume the leases on about 25 properties. ... Read full article

HomeStreet Bank will attempt to sell its stand-alone mortgage business and portfolio of servicing rights, a move that comes amid growing pressure from an activist investor to exit home lending and concerns about declining demand and regulatory challenges. ... Read full article

State Street Corp. said it’s laying off 1,500 staff as part of a plan to reduce costs. ... Read full article

The online student lender said it is reallocating some jobs and "sunsetting" others. ... Read full article