US retail banking employment numbers remain resilient
Banking employment numbers continue to hold up at the largest banks in the US.
So much for the notion that declining branch numbers and the rising use of AI will hit employee numbers. Branch numbers are down by 4% across the largest US retail banks in the past year. But the reduction in branch numbers is not yet translating into cuts in employee numbers.
Across the 30 largest US banks by FTEs, total FTEs drop by only 0.4% for the year to end June. Wells Fargo remains the largest ban...