Banking & Financial Services

Latest Banking & Financial Services Layoffs News & Data

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Latest Largest Banking & Financial Services Layoffs -2024

June 2024

Company: KPMG

Headquarters: Netherlands, Netherlands, Netherlands

Number of People: 200

KPMG will proceed with a massive overhaul of its consulting division, which could result in some 200 senior staff losing their jobs for a cost savings of about $80 million. The Big Four accounting firm employs about 10,000 people nationwide and revealed the massive divisional shake-up on Friday. It’s the latest in a string of redundancies across the Australian professional services industry following a global slowdown.

June 2024

Company: Funding Circle

Headquarters: London, United Kingdom

Number of People: 120

Small business lender Funding Circle is cutting around 120 jobs as it seeks profitability by slashing costs. The job cuts—14% of the non-US workforce—will cost about £5 million in 2024 but help Funding Circle secure an annualized run rate cost savings of around £15 million in 2025.

May 2024

Company: Citigroup

Headquarters: New York City, New York, United States

Number of People: 4500

Citigroup Inc. is eliminating 4,500 jobs in its latest effort to cut costs. The bank will take a $400 million charge in the fourth quarter. The cuts represent about 1.5 percent of its global workforce of 267,000. CEO Pandit said the cuts would be made over the next few quarters.

May 2024

Company: TSB Bank Group

Headquarters: London, Greater London, United Kingdom

Number of People: 250

TSB is closing 36 bank branches and expects to cut 250 roles as the company continues to shift services online. The closures will begin in September and continue through May. The bank also expects a net reduction in roles as it streamlines its operations.

May 2024

Company: JP Morgan Chase & Co.

Headquarters: New York City, New York, United States

Number of People: 7

JPMorgan Chase & Co. has started a new round of layoffs in Asia, cutting at least seven more investment-banking jobs.  The Wall Street bank also cut dozens of jobs last year. The New York-based bank initiated the reductions this week, impacting mostly staff at the vice president and associate levels in consumer, energy, and healthcare sectors.

How can you benefit from the Banking & Financial Services Layoff Dataset?

Investment & Trading:

Make informed decisions about buying, selling, or avoiding banking and financial services stocks based on the implications of job cuts for such companies’ profitability and market position.     

Revenue Forecasting:

Layoffs typically result in changes in decision-making and budgets. Power your revenue forecasting models with the latest layoff data about your banking and financial services customers and prospects to predict revenue from them.

Identify Churn Risks:

Layoffs in banking and financials customers are signals for downgrades and decreased usage and consumption of products and services. Identify customers’ churn signals proactively.

Market Research & Intelligence:

Use the latest layoff data in banking and financial services companies to identify employment trends in the sector for market research and market intelligence activities.

Hiring/ Recruitment:

Hire talent from banking, financial services, and fintech companies that announced layoffs. 

Why Subscribe to Intellizence Layoff Dataset?

AI-Powered Platform:

The Intellizence company intelligence platform is powered by cutting-edge Natural Language Processing and Machine Learning technologies that curate layoff data from multiple external sources. To ensure high-quality signals, every record is human-audited for data integrity.

Delivered in Near Real-time:

Intellizence monitors thousands of sources in real-time for any latest layoff announcements from various unstructured external sources and delivers layoff data in a structured format.

Comprehensive Coverage:

Intellizence curates the data from news, press wires, and WARN notices to ensure comprehensive coverage. The intellizence layoff dataset covers data from Banking & Financial Services and all other emerging and established industries.

Multiple Delivery Channels:

The layoff news is delivered through multiple channels – Web Platform, Email Alerts, Slack, CRM, and ChatGPT Plugin. We offer API to power your applications and models with real-time layoff news and data. 

One-Stop Data Provider for Company Signals:

In addition to Layoff News & Data, Intellizence offers curated news on 80+ company signals and structured datasets – Startup Funding, Mergers & Acquisitions, Business Expansion, Major Hiring, CXO Appointments & Changes, and Data & Security Breaches.

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