Job CutsRSS

Finastra goes on a job cutting spree

finastra 1

EXCLUSIVE: Finastra, which emerged earlier this year from the combination of two banking tech vendors, D+H Corporation and Misys, has made a number of job cuts across its operations.

Fintech layoffs round-up: 18 August 2017

FSB: fintech brings risks and benefits

A distinctly cheerless round-up as we highlight some key moments regarding fintech layoffs. Features Simple and Royal Bank of Scotland (RBS). US-based digital banking service Simple has fired 33 staff members (about 10% of its workforce), including several executives, according to The Oregonian. Simple’s CMO, chief people officer, VP of operations, and VP of engineering […]

Commerzbank preps for major job losses

Commerzbank logo

As part of its massive job cutting spree, Commerzbank has agreed an outline reconciliation of interests and social plan with the employee representative committees in Germany. As reported last year, Commerzbank firmed up plans to lay off nearly 5,000 people. According to a letter by German labour union Verdi, the majority of these job cuts […]

Tandem Bank cuts staff numbers as funding slumbers

Temporarily bank no more...

UK challenger bank Tandem is axing 30 jobs after its £29 million in funding fell through earlier this year. A source has told Business Insider that Tandem has “reduced its staffing levels from around 110 to close to 80. The headcount reduction includes both redundancies and contractors who have not been renewed”. As Banking Technology […]

RBS axes hundreds of tech jobs

rbs 2

Royal Bank of Scotland (RBS) is cutting nearly 250 jobs as part of a back-office ops shake-up – with claims that some roles will end up in India. The bank says 92 full-time staff will be affected, while 154 contractor roles will go later this year. Most of these positions are technology-related and are based […]

Cognizant plans: layoffs, automation, investment in digital and M&A

Someone gotta go...

Cognizant, a global provider of digital, technology, consulting and operations services, is to get rid of up to 4% of its workforce, it is understood. It is also keen on increasing automation, investment in digital and M&A.

Temenos cuts jobs in US; eyes D+H payments business

Someone gotta go...

Banking software vendor Temenos is understood to have laid off a number of staff across its operations in the US, including at the Trinovus and Akcelerant subsidiaries. It is also understood to be eyeing the payments business of DH Corporation, Global Transaction Banking Solution (GTBS, formerly Fundtech).

Job cuts loom as HSBC closes 62 UK branches

HSBC-Logo

HSBC plans the closure of 62 of its UK branches in 2017, with the loss of up to 180 jobs. This will bring the number of branches it has in the country to 625 by the end of 2017. It says it has no intention to close any further branches in 2017 and this marks […]

UniCredit to cut 14,000 jobs

Italy

Italy’s largest bank UniCredit plans to raise €13 billion and axe 14,000 jobs over the next two years as it looks to get its finances in order. Along with the job cuts, which amount to about 11% of its workforce, UniCredit will shut down about 25% of its 3,800 branches. It also aims to use […]

National Bank of Canada axes 600 jobs

National Bank of Canada

The National Bank of Canada will cut 600 jobs as part of its restructuring plans and take a charge of $175 million in Q4. The charge includes severance payments to employees and the expense of moving premises. The bank says the restructuring will bring $120 million in annual savings. As of July this year, it […]

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