In the last briefing, we focused on fintech layoffs, bringing special attention to Chime cutting 12% of its workforce.
Oof, that’s gotta hurt.
Wall Street banks are taking a hit as well, though. And that’s in light of the downturn in deal-making we’re seeing. Here’s some of what’s happened so far:
- Citigroup let go of around 50 people within its trading personnel. It also scratched dozens of jobs within its trading division.
- Barclays cut around 200 jobs within its banking and trading desks.
- Credit Suisse says it’s planning to let go of 2,700 employees in Q4 and 9,000 positions by 2025.
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