FinanceMoneycontrol
Wall Street banks’ record quarter didn’t slow their job cuts
in5points
Major Wall Street banks including Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley reported a combined headcount reduction of over 10,000 in Q2.
This occurred despite these banks posting record quarterly profits.
The job cuts suggest cost-cutting measures or restructuring priorities even amid strong financial performance.
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