8legs: Bank of america corp.

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Wall Street Eliminated 10,600 Jobs Last Year, Most Since 2016

In 2025, Wall Street eliminated about 10,600 jobs, the most since 2016.
The reductions reflect broader cost-cutting and structural shifts across major banks.
Automation and reorganizations are cited as drivers behind the payroll reductions.
The trend points to an industry-wide retrenchment as revenue streams evolve.
The yearly job cuts are the largest since 2016, suggesting a long-term shift in employment.
Banks and financial institutions collectively reduced headcount in 2025.
The report underscores ongoing efficiency drives in the sector.
Market conditions and evolving revenue sources are reshaping staffing.
The data points to a cautious landscape for 2026 hiring in finance.
Bloomberg covered the figures indicating a significant payroll adjustment last year.

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