Over 40,000 People Will Be Laid Off From Euro Banks

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Layoff announcements at European banks are piling up.

In just the past month, UBS, Barclays, Credit Suisse, RBS, and HSBC have announced thousands of layoffs. Now they’re up to over 40,000.

Click here for the full picture of upcoming layoffs.

The layoffs are unfortunately necessary as Euro banks are struggling to cope with an increased regulatory environment, the crisis in the Eurozone, and dwindling investment bank profits.

The latest announcements:

UBS – 3,500 job cuts, mainly from its investment bank.

HSBC – 30,000 job cuts

Barclays – 3,000 job cuts

RBS – 2,000 job cuts

Credit Suisse – 2,000 job cuts

 

Related: Things are so bad at Euro banks that juniors have been ordered to fly coach >

See also: THOUSANDS OF LAYOFFS TO HIT WALL STREET THIS FALL >

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