Financial Tumult News Today : Breaking News, Live Updates & Top Stories | Vimarsana

In 2023, major global banks such as UBS Group AG (NYSE: UBS) and Wells Fargo & Co (NYSE: WFC) executed extensive job cuts, eliminating over 60,000 positions collectively. This marked one of the most substantial workforce reductions since the financial crisis. Investment banks witnessed plummeting fees for the second consecutive year, prompting Wall Street to defend profit margins by reducing headcount. Also Read: US Banks Could See $160B In Potential Losses From Commercial Real Estate Sector Col ....

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