Payments fintech Bolt announces layoffs
The news follows a string of layoffs in the fintech space in recent weeks.
Job Cuts
BNPL giant Klarna to cut 10% of workforce amid “tumultuous year”
Klarna CEO says he remains “relentlessly optimistic” about the firm’s future.
US fintech MainStreet lays off 30% of employees
CEO Doug Ludlow cites “today’s incredibly rough market” as the reason for the layoffs.
Property lender Better.com lays off more than 3,000 staff in fresh cuts
The announcement was made by the company’s interim president Kevin Ryan via an e-mail to affected staff.
Video: fintech news pick of the week – Better.com, WeLab & Rapyd
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Better.com CEO apologises after laying off 900 workers over Zoom
CEO Vishal Garg says he “blundered the execution” following a barrage of criticism.
Société Générale to cut 3,700 jobs, combine IT systems in Credit du Nord merger
French banking group plans to have 30% of its retail products sold online by 2025.
Fired credit union employee deletes 21GB of internal data in 40-minute spree
Juliana Barile accessed her old account and destroyed sensitive documents.
Video: fintech news pick of the week – Revolut, Deutsche Bank and Pleo
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
Deutsche Bank plans 440 job cuts for Irish operations
The bank is planning to cut three-quarters of its workforce in Ireland.
Lloyds announces 44 fresh branch closures, brings total up to 100
UK bank extends closure programme in response to customers moving online.
BBVA cuts Spanish workforce by 13% to survive “tremendous competitive pressure”
The Spanish bank says digital changes and new competitors have forced its hand.
Video: pick of the week – Tink and AmEx team up; Commerzbank agrees 10,000 job cuts
A top pick of stories from the world of finance and tech in bitesize video format, twice a week.
Commerzbank finalises 10,000 job cuts after agreement with employees
German lender moves forward with widescale restructure plan.
CaixaBank may cut up to 8,000 jobs after Bankia merger
The bank will start negotiations with labour unions just after Easter.
Santander announces 111 UK branch closures as consumers go digital
The bank says all 840 affected staff will be offered new roles.
2020 review: A year which saw fintechs cut jobs, pay & business arms
A number of fintechs have still been tested during COVID-19, some to the brink of collapse.
2020 review: 10 largest bank job cuts this year
This year has seen several job cut announcements.
Tokyo Stock Exchange CEO steps down after damaging systems failure
Koichiro Miyahara resigns as regulators continue to examine exchange’s closure.
ABN Amro plans 2,800 cuts to investment banking and overseas divisions
Dutch lender rolls back operations to focus on home markets.
Danske Bank reveals 500 job cuts and redundancies
Danish bank says the roles are reduced as part of an ongoing cost reduction plan.
ING pumps brakes on digital banking plans, plans 1,000 job cuts
Dutch bank forced to pull back on widespread CX changes after €140m already spent.
Lloyds plans 1,040 job cuts to back office support staff
The figure brings Lloyds’s total cuts to 1,900 this year.
HSBC to cut up to 300 jobs in UK commercial banking unit
The cuts are part of a wider restructuring announced in February.
Virgin Money slashes 400 jobs as it lands £35m government grant
The 400 job cuts are part of a forecast 16% reduction in Virgin Money’s headcount.
Citigroup restarts job cuts after coronavirus pause
US lender plans big infrastructure changes in the final months of the year.
Singapore fintech GoBear lays off 11% of workforce
The fintech landed $17 million in May,
The time for reskilling is now: how to go about it in a post-pandemic world
We have just six months to prepare for the new work environment – let’s be strategic about our upskilling options.
Co-operative Bank plans 350 job cuts, 18 branch closures
The UK bank reacts to an increasingly online demand.
Wells Fargo resumes job cuts after pandemic break
Layoffs, branch closures and cuts to third-party spending are on the table.
Commerzbank closes 200 branches
Commerzbank’s group profit fell by a fifth to €220 million in the second quarter.
ABN Amro to slash size of investment bank after losses
A €703 million impairment charge is behind the bank’s losses.
Monzo’s losses widen due to COVID-19
Bank admits that the pandemic casts “significant doubt” on its ability to continue operations.
11:FS makes second round of cuts, this time to 11:FS Foundry
Leda Glyptis will no longer be the Foundry’s CEO.
OCBC Bank connects to Singapore Government’s identity platform
SingPass enables users to connect to a wide range of platforms and government services.
Wells Fargo mulls job cuts amid loan losses
The major US bank is looking at a strategic overhaul.
HSBC France to cut 38% of global banking and markets jobs
It’s seeking to cut 255 of 678 jobs by the end-2021 as part of a broader plan to reduce costs.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
Virgin Money restarts planned job cuts and branch closures
The UK bank’s plans had been put on hold by COVID-19.
Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
