European banks respond to the impact of the coronavirus crisis with the announcement of more than 80,000 layoffs
Since the beginning of the coronavirus pandemic, European banking has left an incessant trickle of procedures to cut thousands of jobs. The low profitability of the business and the forecasts of worsening balance sheets or that interest rates will remain negative for much longer are leading the continent’s large banks to announce massive cuts in staff. Estimates suggest that these processes will add more than 80,000 exits in the coming months and years.
The new mergers will make Spain the European country with the most layoffs in banking since the 2008 crisis
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