In the next six months, 50,000 jobs should be cut in the banking sector. HSBC wants to cut 10,000 jobs in Europe to focus on Asia. Deutsche Bank plans 18,000 fewer jobs, Italy's Unicredit 10,000 and Société Générale more than 2,000.
Will the bank be the iron and steel industry of tomorrow? One after the other, the banks announce thousands if not tens of thousands of job cuts.
And it's low noise. When bank agencies lower the curtain, it mobilizes less elected than when a factory closes. And yet, the hemorrhage is there and it is considerable. Last year, 70,000 jobs were cut in European banks. This is more than the Peugeot-Citroën workforce in France. In ten years, since 2008, the banking sector in Europe has lost 600,000 jobs. But this is not the end of the story, unfortunately, because most European banks have plans to start in their cards. HSBC wants to cut 10,000 jobs in Europe to focus on Asia. Deutsche Bank plans 18,000 fewer jobs, Italy's Unicredit 10,000 and Société Générale more than 2,000.
The causes of this haemorrhage are not only due to the Internet?
The digital explains part of the phenomenon. Customers are less and less frequenting their agencies and doing business online, forcing banks to invest heavily in IT while reducing their staffing in the networks. But the other big reason is the drop in interest rates. The zero or negative rate policy is depleting banks' margins. They still earn money but less. Ironically, it is to save the banking system that central banks have lowered interest rates. A policy that is now creating major difficulties for the sector, which plans to cut another 50,000 jobs next year.