Global investment banks have been suffering this year, with European banks being hit the hardest. As a result, nearly 30,000 jobs have been cut or are set to be cut across the sector. Deutsche Bank’s radical overhaul of its business accounts for a large proportion of global cuts, but Barclays and Citigroup have also announced major cuts across their operations.
Nearly 30,000 investment-banking jobs are on the chopping board this year as the global banking industry looks set for a gloomy second half of 2019.
The Financial Times reported that most of the cuts have been in European banks, with Deutsche Bank making up a large portion of the layoffs after last month’s overhaul.
But American banks such as Citigroup are also struggling as falling