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FinTech
Block's Big Trim: Dorsey's Firm Initiates Cost-Cutting Layoffs
2024-01-31T12:32:41.815+02:00
Fintech begins layoffs as part of cost-cutting, aiming to reduce staff to 12,000 by 2024.
Block's stock remains stable despite layoffs, and analysts see cost focus as beneficial.
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Retail FX
Metro Bank Targets £50 Million Savings, Announces 20% Job Cuts
2023-11-30T12:54:57.359+02:00
Metro Bank increases its cost reduction target to £50 million annually.
Concurrently, the bank announced the successful completion of a £325 million capital raise.
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Retail FX
Barclays' Billion-Dollar Savings Quest May Lead to 2,500 Investment Client Cuts
2023-11-28T13:08:57.988+02:00
The bank is considering various options for cost savings.
In addition to cutting jobs, it wants to streamline the investment division significantly.
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CryptoCurrency
Indian Crypto Tax Rules Cited as One of Three Reasons for CoinDCX’s Job Cut of 12%
2023-08-23T09:28:19.484+02:00
The other two are difficult macro conditions and low crypto asset prices.
The number of digital asset exchanges slashing employment is on the rise.
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CryptoCurrency
KuCoin Dismisses Reports of Massive 30% Staff Cuts, Labels It as 'Evaluation'
2023-07-26T09:30:35.286+02:00
KuCoin's CEO calls the reports rumors, but does not deny the cuts.
A few days earlier, the WSJ reported that Binance had laid off more than 1,000 people.
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Retail FX
Robinhood Trims Workforce Again as Retail Investor Activity Wanes
2023-06-27T10:43:00.802+02:00
Third time's a charm? The retail trading company cuts jobs amid declining volumes.
The HOOD laid off 1,000 people in 2022, and about 150 will lose their jobs now.
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Institutional FX
UBS' CEO Suggests Massive Job Cuts Loom for Credit Suisse's Investment Banking Division
2023-06-19T12:33:02.637+02:00
The decision is explained by the need to reduce costs.
However, UBS does not provide exact figures.
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Retail FX
Freetrade Stock Trading App Slashes Valuation by £425 Million
2023-06-14T13:31:07.850+02:00
The startup reduced its valuation by 65% as FinTech companies face a severe sell-off.
The decision emerges in anticipation of a crowdfunding campaign planned this month.
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Institutional FX
StanChart Aims to Cut $1 Billion in Costs, Starting with 100 Layoffs
2023-06-08T08:22:15.542+02:00
The lender will let go of some of the employees in Asia and London.
StanChart joins the lengthening list of banks cutting jobs.
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Institutional FX
Goldman Sachs Trims Its Ranks Again amid Market Slowdown
2023-05-31T10:35:15.527+02:00
Goldman Sachs cut employment before, in September and in January.
Other Wall Street Banks also announced cuts this month.
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CryptoCurrency
Nansen to Lay Off 30% of Staff, CEO Cites Challenging Market Conditions
2023-05-31T09:39:06.914+02:00
The blockchain company presented two main reasons for the move.
The company had grown dramatically in the pandemic and then encountered a crypto winter.
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Institutional FX
Top Chinese Bankers among Morgan Stanley's 3,000 Job Cuts
2023-05-29T15:27:00.559+02:00
Morgan Stanley continues its job-cutting spree, with a particular focus on China.
The lender plans to trim employment by 3,000 positions by the end of the financial quarter.
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Institutional FX
JPMorgan to Lay Off 1,000 Staff from the Bankrupt First Republic
2023-05-26T09:58:45.062+02:00
JPM wants to lay off 1,000 of approximately 7,000 employees of bankrupt FRB.
Before the collapse, the institution had plans to cut its workforce by 25%.
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Executives
Goldman Sachs Talent Storm as Executives Head to Competitors
2023-04-20T12:45:55.853+02:00
Key personnel exits Goldman Sachs for competing firms.
Three months ago, the lending giant announced massive layoffs.
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Institutional FX
Barclays Joins the Layoffs Bandwagon, Cuts 100 Jobs in Investment Banking
2023-04-17T11:30:22.276+02:00
Investment giant prepares for another round of job cuts.
However, the cuts are more modest than those of competitors.
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Institutional FX
UBS Slashes 36,000 Jobs Following Credit Suisse Takeover
2023-04-05T10:28:41.650+02:00
UBS leads the layoffs in the finance and technology sector.
The massive job cuts started in October 2022.
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Institutional FX
Credit Suisse Delays Annual Report and Cuts Investment Banking Jobs
2023-03-09T14:05:55.127+02:00
CS shares fell after the SEC call forced the lender to delay its report.
Additionally, the bank is cutting other investment banking jobs.
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Institutional FX
JPMorgan Joins the Investment Banking Jobs Cuts Wagon
2023-02-21T13:11:22.882+02:00
Goldman and Morgan Stanley previously announced similar moves in the region.
JPM wants to reduce 30 jobs, mainly in junior-level positions.
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CryptoCurrency
Crypto Platform Luno Sheds 35% of Workforce
2023-01-26T11:06:15.041+02:00
Luno is a part of DCG, which is also reducing its current employment.
The company misjudged the level of industry slowdown during the crypto winter.
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CryptoCurrency
Third Time's the Charm? Gemini Cuts its Workforce Once Again
2023-01-24T12:23:32.419+02:00
Gemini cut jobs by 10% in June and then by 7% in July 2022.
The third round of layoffs comes when the crypto prices are strongly rebounding.
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CryptoCurrency
ConsenSys Joins Crypto Layoffs with 11% Workforce Cut
2023-01-19T12:10:02.718+02:00
The company will lay off 96 employees.
Many other companies in the crypto space have made similar decisions.
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Institutional FX
Credit Suisse Starts Job Cuts, Goes after European Investment Bankers
2023-01-16T14:17:46.106+02:00
Credit Suisse aims to cut 10% of its European investment banking staff, FT reveals.
In total, CS wants to reduce its workforce by 9,000.
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CryptoCurrency
Binance Hires When Coinbase Cuts Employment amidst Crypto Winter
2023-01-12T11:59:55.407+02:00
Binance wants to increase its staff by another 30% in 2023.
Meanwhile, other major crypto exchanges are reducing employment.
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Institutional FX
Goldman Sachs Joins Layoff Wagon, Wants to Cut 3,200 Jobs
2023-01-09T11:30:03.004+02:00
According to previous reports, Goldman Sachs wanted to cut 4,000 jobs.
The layoffs come as an answer to worsening economic conditions.
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Institutional FX
Goldman Sachs May Start New Year with 4,000 Job Cuts
2022-12-29T10:58:47.626+02:00
Goldman Sachs considers cutting its workforce by 8%, according to Bloomberg.
The layoffs are expected to take place in the first half of January.
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