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FinTech

Block's Big Trim: Dorsey's Firm Initiates Cost-Cutting Layoffs

  • Fintech begins layoffs as part of cost-cutting, aiming to reduce staff to 12,000 by 2024.
  • Block's stock remains stable despite layoffs, and analysts see cost focus as beneficial.
Wednesday, 31/01/2024 | 10:32 GMT by Damian Chmiel
Retail FX

Metro Bank Targets £50 Million Savings, Announces 20% Job Cuts

  • Metro Bank increases its cost reduction target to £50 million annually.
  • Concurrently, the bank announced the successful completion of a £325 million capital raise.
Thursday, 30/11/2023 | 10:54 GMT by Damian Chmiel
Retail FX

Barclays' Billion-Dollar Savings Quest May Lead to 2,500 Investment Client Cuts

  • The bank is considering various options for cost savings.
  • In addition to cutting jobs, it wants to streamline the investment division significantly.
Tuesday, 28/11/2023 | 11:08 GMT by Damian Chmiel
CryptoCurrency

Indian Crypto Tax Rules Cited as One of Three Reasons for CoinDCX’s Job Cut of 12%

  • The other two are difficult macro conditions and low crypto asset prices.
  • The number of digital asset exchanges slashing employment is on the rise.
Wednesday, 23/08/2023 | 07:28 GMT by Damian Chmiel
CryptoCurrency

KuCoin Dismisses Reports of Massive 30% Staff Cuts, Labels It as 'Evaluation'

  • KuCoin's CEO calls the reports rumors, but does not deny the cuts.
  • A few days earlier, the WSJ reported that Binance had laid off more than 1,000 people.
Wednesday, 26/07/2023 | 07:30 GMT by Damian Chmiel
Retail FX

Robinhood Trims Workforce Again as Retail Investor Activity Wanes

  • Third time's a charm? The retail trading company cuts jobs amid declining volumes.
  • The HOOD laid off 1,000 people in 2022, and about 150 will lose their jobs now.
Tuesday, 27/06/2023 | 08:43 GMT by Damian Chmiel
Institutional FX

UBS' CEO Suggests Massive Job Cuts Loom for Credit Suisse's Investment Banking Division

  • The decision is explained by the need to reduce costs.
  • However, UBS does not provide exact figures.
Monday, 19/06/2023 | 10:33 GMT by Damian Chmiel
Retail FX

Freetrade Stock Trading App Slashes Valuation by £425 Million

  • The startup reduced its valuation by 65% as FinTech companies face a severe sell-off.
  • The decision emerges in anticipation of a crowdfunding campaign planned this month.
Wednesday, 14/06/2023 | 11:31 GMT by Damian Chmiel
Institutional FX

StanChart Aims to Cut $1 Billion in Costs, Starting with 100 Layoffs

  • The lender will let go of some of the employees in Asia and London.
  • StanChart joins the lengthening list of banks cutting jobs.
Thursday, 08/06/2023 | 06:22 GMT by Damian Chmiel
Institutional FX

Goldman Sachs Trims Its Ranks Again amid Market Slowdown

  • Goldman Sachs cut employment before, in September and in January.
  • Other Wall Street Banks also announced cuts this month.
Wednesday, 31/05/2023 | 08:35 GMT by Damian Chmiel
CryptoCurrency

Nansen to Lay Off 30% of Staff, CEO Cites Challenging Market Conditions

  • The blockchain company presented two main reasons for the move.
  • The company had grown dramatically in the pandemic and then encountered a crypto winter.
Wednesday, 31/05/2023 | 07:39 GMT by Damian Chmiel
Institutional FX

Top Chinese Bankers among Morgan Stanley's 3,000 Job Cuts

  • Morgan Stanley continues its job-cutting spree, with a particular focus on China.
  • The lender plans to trim employment by 3,000 positions by the end of the financial quarter.
Monday, 29/05/2023 | 13:27 GMT by Damian Chmiel
Institutional FX

JPMorgan to Lay Off 1,000 Staff from the Bankrupt First Republic

  • JPM wants to lay off 1,000 of approximately 7,000 employees of bankrupt FRB.
  • Before the collapse, the institution had plans to cut its workforce by 25%.
Friday, 26/05/2023 | 07:58 GMT by Damian Chmiel
Executives

Goldman Sachs Talent Storm as Executives Head to Competitors

  • Key personnel exits Goldman Sachs for competing firms.
  • Three months ago, the lending giant announced massive layoffs.
Thursday, 20/04/2023 | 10:45 GMT by Damian Chmiel
Institutional FX

Barclays Joins the Layoffs Bandwagon, Cuts 100 Jobs in Investment Banking

  • Investment giant prepares for another round of job cuts.
  • However, the cuts are more modest than those of competitors.
Monday, 17/04/2023 | 09:30 GMT by Damian Chmiel
Institutional FX

UBS Slashes 36,000 Jobs Following Credit Suisse Takeover

  • UBS leads the layoffs in the finance and technology sector.
  • The massive job cuts started in October 2022.
Wednesday, 05/04/2023 | 08:28 GMT by Damian Chmiel
Institutional FX

Credit Suisse Delays Annual Report and Cuts Investment Banking Jobs

  • CS shares fell after the SEC call forced the lender to delay its report.
  • Additionally, the bank is cutting other investment banking jobs.
Thursday, 09/03/2023 | 12:05 GMT by Damian Chmiel
Institutional FX

JPMorgan Joins the Investment Banking Jobs Cuts Wagon

  • Goldman and Morgan Stanley previously announced similar moves in the region.
  • JPM wants to reduce 30 jobs, mainly in junior-level positions.
Tuesday, 21/02/2023 | 11:11 GMT by Damian Chmiel
CryptoCurrency

Crypto Platform Luno Sheds 35% of Workforce

  • Luno is a part of DCG, which is also reducing its current employment.
  • The company misjudged the level of industry slowdown during the crypto winter.
Thursday, 26/01/2023 | 09:06 GMT by Damian Chmiel
CryptoCurrency

Third Time's the Charm? Gemini Cuts its Workforce Once Again

  • Gemini cut jobs by 10% in June and then by 7% in July 2022.
  • The third round of layoffs comes when the crypto prices are strongly rebounding.
Tuesday, 24/01/2023 | 10:23 GMT by Damian Chmiel
CryptoCurrency

ConsenSys Joins Crypto Layoffs with 11% Workforce Cut

  • The company will lay off 96 employees.
  • Many other companies in the crypto space have made similar decisions.
Thursday, 19/01/2023 | 10:10 GMT by Damian Chmiel
Institutional FX

Credit Suisse Starts Job Cuts, Goes after European Investment Bankers

  • Credit Suisse aims to cut 10% of its European investment banking staff, FT reveals.
  • In total, CS wants to reduce its workforce by 9,000.
Monday, 16/01/2023 | 12:17 GMT by Damian Chmiel
CryptoCurrency

Binance Hires When Coinbase Cuts Employment amidst Crypto Winter

  • Binance wants to increase its staff by another 30% in 2023.
  • Meanwhile, other major crypto exchanges are reducing employment.
Thursday, 12/01/2023 | 09:59 GMT by Damian Chmiel
Institutional FX

Goldman Sachs Joins Layoff Wagon, Wants to Cut 3,200 Jobs

  • According to previous reports, Goldman Sachs wanted to cut 4,000 jobs.
  • The layoffs come as an answer to worsening economic conditions.
Monday, 09/01/2023 | 09:30 GMT by Damian Chmiel
Institutional FX

Goldman Sachs May Start New Year with 4,000 Job Cuts

  • Goldman Sachs considers cutting its workforce by 8%, according to Bloomberg.
  • The layoffs are expected to take place in the first half of January.
Thursday, 29/12/2022 | 08:58 GMT by Damian Chmiel
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