Large American banks laid off 10,000 employees last year, the highest level in nearly a decade

AASTOCKS
2026.01.15 17:07

The largest banks in the United States collectively reduced their workforce last year, marking the largest decline in nearly a decade.

As of the end of December last year, the six major banks, including JP Morgan (JPM.US), Bank of America (BAC.US), Citigroup (C.US), Wells Fargo (WFC.US), Goldman Sachs (GS.US), and Morgan Stanley (MS.US), had approximately 1.09 million employees, a decrease of about 10,600 from the previous year, the lowest level since 2021.

The last time the largest U.S. banks experienced large-scale layoffs was in 2016, when the workforce decreased by approximately 22,000 year-on-year

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