Business »  Topic »  Big banks reassure staff about potential job cuts

Big banks reassure staff about potential job cuts


(Reuters) - Big banks are postponing decisions about staff cuts as the coronavirus outbreak hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back.

Morgan Stanley (MS.N), Goldman Sachs Group Inc (GS.N), Wells Fargo & Co (WFC.N), Deutsche Bank AG (DBKGn.DE), HSBC Holdings PLC (HSBA.L) and Citigroup Inc (C.N) were among those on Thursday reassuring staff privately or through public statements that job cuts are not on the table.

Banks are hesitant to make changes because the ...


Read the full text reuters