UK fintech consultancy 11:FS cuts 12% of workforce
Out of its roughly 183 employees, 22 will be leaving the company.
Job Cuts
Fintech start-up Synapse cuts 50% of full-time staff
It also signalled its intention to move more of its workforce to Texas.
Is Monzo’s 40% drop in valuation a sign of things to come for tech start-ups?
Investors in the company believe the drop is nothing more than a minor blip.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
Revolut accused of coercing 50 workers to quit their jobs
Lawyers have said that the firm’s actions can be read as unlawful.
Monzo cuts 120 jobs in its UK head office
The redundancies account for roughly 8% of the start-up’s workforce.
Deutsche Bank resumes job cuts during coronavirus
“We decided to further accelerate our cost reduction program,” says CEO.
Revolut announces redundancy of 60 employees due to coronavirus
“We have made every effort to protect every job,” says fintech.
N26 lays off 10% of New York-based workforce
The losses are the first to be put down to operational reasons.
Amazon Web Services VP resigns over whistleblower firings
The engineer quit in protest over AWS’ handling of warehouse employees amid COVID-19.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
COVID-19: Weekly wrap
FinTech Futures’ weekly coronavirus news wrap.
RBS axes 130 jobs from investment banking arm despite coronavirus uncertainty
Trade unions have criticised RBS’ choice to lay off workers amid the crisis.
Will fintech CEOs follow in the footsteps of Dan Price post-coronavirus?
Monzo and Moven’s CEOs have both taken a 100% pay cut.
Monzo’s CEO takes 100% pay cut for 12 months
Senior management and the board will also take a 25% pay cut.
HSBC delays ‘vast majority’ of redundancies amid COVID-19
“Because of the extraordinary impact of the COVID-19 pandemic,” says Noel Quinn.
Funding Circle plans to cut 125 jobs in Berlin and Amsterdam
P2P firm reacts to poor year in external markets by cutting back.
Barclays makes cuts affecting more than 1,000 staff
Technology and operations teams will be hit hardest.
Capital One announces US branch closures
37 branches are set to be shuttered by the company as customers go digital.
Lloyds, Virgin Money and Direct Line announce fresh job cuts
The three firms blame changing customer behaviour for the downsizing.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
UniCredit outlines 6,000 job cuts and 450 branch closures in cost-cutting plan
Italian bank kicks off its three-year plan.
Hot-seat with Sanat Rao, CBO and global head at Infosys Finacle
He talks about workforce and culture transformation, RPAs, open banking and more.
Top executives at SoftBank’s $100bn Vision Fund set to leave
Top of the list is Michael Ronen, the managing partner of the Vision Fund’s US investments.
What Brexit Day means for the future of fintech
A collection of thoughts across the industry on what Brexit day means for them.
JP Morgan plans to cut hundreds of jobs across consumer division
It will notify the impacted staff on 6 February.
HSBC plans new restructure with France and USA in firing line
The global bank is aiming to cut costs and weed out loss-making divisions.
Job losses in Lithuania as Barclays hands ops centre to HCL
End of an era and not all employees will get a job at the Indian firm.
Wells Fargo plans to cut 26,500 jobs
Significant job cuts expected over the next three years, according to CEO.
UK payments firm SP Group fights for survival
Jobs will be lost as the company calls in the administrators.
Lloyds and Barclays cut hundreds of UK jobs
On top of all the other jobs axed.
Deutsche Bank to cut 7,000 jobs
One in four jobs in its equities sales and trading business to go.
Deutsche Bank to axe 500 investment banking jobs
Also looking to cut costs and may relocate its client business out of UK in response to Brexit.
Lloyds Bank cutting 930 jobs
Within its commercial banking, community banking, insurance, and wealth and risk management.
SoFi reportedly cutting 65 jobs from mortgage division
The Wall Street Journal reports the firm is looking to make its mortgage process more automated.
IBM planning to reassign 30,000 tech services jobs
“I’ve Been Moved”?
VMware confirms “small” number of layoffs
Even with the layoffs, it is also hiring.
Top fintech stories this week – 3 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
But what about the human cost of automation?
New research from recruitment agency Robert Half has outlined the jobs which are under threat from automation, but when are we actually going to talk seriously about the dark side of artificial intelligence (AI)?
Top fintech stories this week – 21 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
