The rapid pace of technological change will force financial services companies to invest in more efficient digital offerings for clients, eliminate jobs and retrain staff to focus on higher-value work, according to an Accenture report.
The Louisiana company's willingness to combine with First Horizon without a big initial payday is fueling talk that other banks could be keen on selling at relatively inexpensive prices.
While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.
A new study suggests banks have the ability to operate leaner than ever before. That could fuel investor demands for more cost cutting and drive more banks to pursue M&A.
Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders.
