Banks Continue Layoffs

Banks Continue Layoffs Banks continue layoffs. The number of people laid off since the beginning of the year approached last year's total. Despite less credit losses than anticipated in the third quarter of the year and strengthening of capital adequacy ratios, European banks did not stop their layoffs. According to the information obtained, Banco Santander is considering ending the jobs of 2 thousand people in the Poland. Netherlands-based ING, another European bank, is also planning to lay off a thousand people by the end of 2021. UK-based Barclays predicts a reduction of 1,070 positions, mainly in technology and retail units. Looking at the data compiled by Bloomberg and considering the latest plans of European banks, it is seen that the layoffs made by the banking sector reached 75,368. Last year, this number was recorded as 80 thousand. According to the data announced, 80 percent of the layoffs of the banking sector in the global context were carried out by European banks.