Wall Street Fires Hundreds Of Workers

Citigroup, Barclays cuts employees, JPMorgan Chase underperformers at risk
NEW YORK, NEW YORK - OCTOBER 14: A Citibank signage is seen on Broadway on October 14, 2022 in New York City. Citigroup announced that its third-quarter earnings fell 25% as its shares gained more than 2% helped by rising interest rates.  (Photo by Michael M. Santiago/Getty Images)

At a glance

  • Amid a decline in deal-making activity, New York-based Citigroup let go of approximately 50 trading personnel this week and cut dozens of banking roles.
  • London-based Barclays also cut around 200 positions this week.
  • At JPMorgan Chase, which plans to slash costs through selective end-of-year cuts, attrition, and smaller bonuses, underperformers could also be at risk.

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