UBS, Wells Fargo, other big banks cut over 60,000 jobs in 2023

The latest financial crisis has forced 20 of the world’s biggest banks to shed 61,905 jobs in the outgoing year.

This development, according to a report by the Financial Times, represents one of the most substantial reductions in personnel since the global financial crisis of 2008.

It also marks a drastic reversal of the aggressive hiring sprees witnessed during the post-COVID-19 pandemic.

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