Europe’s banks kick off sweeping job cuts in ‘Year of Reckoning’
https://fortune.com/europe/2025/01/31/european-ba…
How are we feeling about this?
“The start of the year is normally a time when Europe’s bankers wait nervously for a word on their bonuses. But weeks into 2025, some are starting to wonder if they will even have a job.
On Thursday, Deutsche Bank AG Chief Executive Officer Christian Sewing put his staff on notice, saying he’s looking to cut headcount including managers. HSBC Holdings Plc CEO Georges Elhedery earlier this week said it’s shuttering large parts of its investment bank in Europe and the US.”
European Tariffs can hurt even more!
I just don’t think they can compete at a high level against incumbent US firms
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