LNAU posts,
In the wake of the global economic downturn, Bank of America is preparing to cut a large number of jobs, which is seen as having agreed to lay off thousands of employees from the bank.
According to the Financial Times of America, there is pressure on banks to reduce costs after investment declines, and employees who were not fired during the Corona epidemic will also fall under this wave.
A report by the American newspaper said that the pressure on senior bank executives In reducing the capital cost is high after the investment decreases.
The bank has begun the process of cutting more than 15,000 jobs in the past month.
Anna Ursov, Moody’s World Bank co-head, said she expects the job cuts to be less severe than during the financial crisis.
He added that European franchises are also being cut, but the amount will be smaller than the layoffs at American banks.
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