EUROPEAN BANKS QUICKER TO CUT STAFF THAN US LENDERS

摘要

Employment numbers at globally systematically IMPORTANT BANKS (GSIBs) have decreased far more at European institutions than at their US counterparts, data from these banks show. At the peak of the 2008 financial crisis, European banks that are now designated as GSIBs had 2.19 million people on their payrolls. That number has been decreasing steadily since, dipping to less than 2 million in 2012, and, according to the figures from the end of 2014, it now sits at 1.91 million (see chart one). US GSIBs, on the other hand, managed to keep their headcount relatively steady over the past seven years. Employment actually peaked in 2011 at 1.25 million, and has inched down since to 1.14 million at the end of 2014.