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Major Wall Street Banks Cut Over 5,000 Jobs in 1Q26
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According to foreign media reports, several of the largest Wall Street banks cut more than 5,000 jobs in 1Q26. The layoffs were mainly concentrated at Wells Fargo (WFC.US), which reduced its workforce by 4,199 in 1Q26, followed by Citigroup (C.US) with 2,000 job cuts and Bank of America (BAC.US) with 1,073 layoffs. JPMorgan Chase (JPM.US) and Morgan Stanley (MS.US), meanwhile, increased headcount. The six major US banks recorded combined net profit of as much as USD47.3 billion. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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