FACTBOX-Banks to cut more than 120,000 jobs
(Corrects BNP Paribas overall staffing levels)
Nov 16 (Reuters) - Banks are shedding jobs worldwide
as stricter regulations and a tough six months for trading
income take their toll on investment banking units.
France's BNP Paribas is only one of the latest banks to
confirm they are also cutting jobs. [ID:nL5E7MG2FA] Rival
Societe Generale could axe 500 jobs, one union source told
Reuters. [ID:nL5E7MF39S]
At Citigroup <C.N>, more than 3,000 staff could go.
[ID:nN1E7AF0LN]
Italy's UniCredit <CRDI.MI> said on Monday it was cutting
6,150 jobs as part of a strategy revamp, while Japan's Mizuho
Financial group Inc <8411.T> is making 3,000 layoffs as it
merges two banking units. [ID:nL3E7ME15Y] [ID:nL5E7ME1JE]
The layoff plans brings staff cuts announced this year or
reported to be in the works at major banks to 123,000, some of
them to be lost over three- or four-year programmes.
The job cut estimates are likely to be conservative figures,
as not all banks trimming teams have publicly announced
lay-offs, and the number does not take into account smaller
investment banks, boutiques and brokers.
Below is the latest summary of cuts:
Jobs to be cut Total staff*
HSBC <HSBA.L> 30,000 295,995
BANK OF AMERICA MERRILL 30,000 287,839
LYNCH <BAC.N>
LLOYDS BANKING GROUP 15,000 103,859
<LLOY.L>
UNICREDIT <CRDI.MI> 6,150 160,552
UBS <UBSN.VX> 3,500 65,707
CREDIT SUISSE <CSGN.VX> 3,500 50,700
BARCLAYS <BARC.L> 3,500 146,100
INTESA SANPAOLO <ISP.MI> 3,000 101,169
MIZUHO <8411.T> 3,000 57,000
CITIGROUP <C.N> 3,000 267,000
ING <ING.AS> 2,700 98,169
ABN AMRO <ABNNV.UL> 2,350 26,161
MONTE DEI PASCHI DI SIENA c.2,200 31,201
<BMPS.MI>
NORDEA <NDA.ST> 2,000 34,169
DANSKE BANK <DANSKE.CO> 2,000 21,567
ROYAL BANK OF SCOTLAND c.2,000 148,300
<RBS.L>
BANK OF NEW YORK MELLON 1,500 48,900
<BK.N>
BNP PARIBAS <BNPP.PA> 1,396 199,300
RABOBANK <RABO.UL> 1,200 59,000
BANCO POPOLARE <BAPO.MI> 1,120 19,209
GOLDMAN SACHS <GS.N> 1,000 35,500
JPMORGAN <JPM.N> 1,000 239,831
NOMURA <8604.T> c.1,000 35,697
DEUTSCHE BANK <DBKGn.DE> 500 102,062
SOCIETE GENERALE <SOGN.PA> c.500 160,700
* According to latest available figure, usually end 2010,
mid-year or quarterly reports
(Reporting by Sarah White and Ethan Bilby; Editing by Jane
Merriman)
((
sarah.white1@thomsonreuters.com)(+ 44 207 542 33 45)(Reuters
Messaging:
sarah.white.thomsonreuters.com@reuters.net))
Keywords: BANKS/JOBS
Thursday, 17 November 2011 01:49:27RTRS [nL6E7M41RA] {C}ENDS