Finance jobs are disappearing

One industry we've seen a lot of bad news about recently is finance, w/large global layoffs by major institutions - and indeed, in the US it was one of the few industries to experience a M/M decline during June in the LinkedIn Hiring Rate (LHR). Finance industry hiring was down 0.6% M/M in June, and has also underperformed the overall labor market on a Y/Y basis with a 3.3% decline. For this and other exciting insights, check out our next LinkedIn Workforce Report, coming out on Thursday!

One industry we've seen a lot of bad news about recently is finance, w/large global layoffs by major institutions - and indeed, in the US it was one of the few industries to experience a M/M decline during June in the LinkedIn Hiring Rate (LHR). Finance industry hiring was down 0.6% M/M in June, and has also underperformed the overall labor market on a Y/Y basis with a 3.3% decline. For this and other exciting insights, check out our next LinkedIn Workforce Report, coming out on Thursday!

Struggling Deutchebank launches a global reorganization plan as part of which reduces its workforce by 20% or 18000 jobs, exiting from equity trading business. What is the future of #investmentbanking? How is going to be impacted by the rise of #etfs and technology developments, including #fintech? Looking forward to seeing another sector being disrupted by new technologies. https://lnkd.in/dHhszcU

Following the announcement of the 18,000 job cuts planned by Deutsche Bank, details are emerging of their plans: Target headcount of 74K by 2022 Restructuring cost of $3.1b in Q2 No 2019 or 2020 #dividend payment Creating a #CorporateBanking division Exit #equities sales and #trading business Analysts are still assessing, but initial questions are: do they have this time (2+ years) to make the changes, and are they getting out of equities or possibly not completely? One thing that is clear, those that lose their jobs won’t all find jobs easily, given the impact of #automation and those that do may have to acccept lower compensation via Bloomberg LP

Deutsche Bank announced a major restructuring that will cost $8.3 billion and eliminate 18,000 jobs by 2022. Who could win from the transformation? US banks. "Net net, market share will continue to consolidate to those banks with the scale and capacity to invest," a team of analysts at Credit Suisse led by Susan Roth Katzke in a note Monday. https://lnkd.in/gBGwhwf Read more Business Insider #deutschebank #finance

Deutsche Bank is undergoing an $8.3 billion overhaul — which will include cutting 18,000 jobs. That's about 20% of its staff. Mass #layoffs like these can come as a shock, but often there are warning signs. Rachel Gillett and I put together a list of 29 signs that they could be happening at your company. For example: If your company has just missed on revenue targets, or if it's been hiring too quickly, keep an eye out. Have you ever been laid off? Did you see it coming? Let us know in the comments below, and follow Business Insider for more coverage like this.

More doom and gloom for the City as Deutsche Bank swings the axe — job vacancies continue to decline at "dramatic" pace, recruiter Morgan McKinley warns. #business #banking #finance #banks #DeutscheBank

Deutsche Bank announced on Sunday that it is looking to cut up to 18,000 jobs by 2022. The embattled German lender said it will exit its global equities sales and trading business in a bid to improve profitability. Shares jumped more than 4% on the news. Deutsche has gone through a number of restructuring rounds in the past but the bank's CFO claims he is confident this is the "final restructuring" round for the German lender. Here's what to expect from this round: -€7.4 BN overhaul by end of 2022 -Exiting Equities Sales & Trading, Rates -Creation of €74 BN ‘Capital Release Unit’ -18,000 job cuts -ROTE target of 8% by 2022 Deutsche share price performance: - Session - 4% higher on news - YTD - 4.6% higher - 30 days - 22.2% higher - 12-month - 25% lower - Five years - 70% lower More on this - https://lnkd.in/dm598Dq Also, Read Deutsche Bank CEO’s email to staff about job cuts - https://lnkd.in/dvxQNDc And: Deutsche Bank shares jump 4% as lender gets ready for major overhaul - https://lnkd.in/d6q2Bhx