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business19h ago
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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