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

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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).

Cisco to cut 5,500 jobs in order to refocus on IoT and the cloud

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US networking gear giant Cisco has announced it will be cutting 5,500 jobs to reinvest the consequent savings on strategic growth areas like IoT, cloud, data centres and collaboration, reports Scott Bicheno at Telecoms.com. The announcement was made as part of the company’s quarterly earnings announcement, which revealed flat revenue growth but improved profitability. It […]

Deutsche Bank gets go-ahead for 3,000 job cuts; invests €750m in digital projects

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Deutsche Bank has got the green light from its work council to cut 3,000 full-time jobs. The cuts mainly impact retail and commercial business lines, with separate talks to be held regarding job cuts across other divisions. This development is part of Deutsche Bank’s major initiative to turn its fortunes around, announced last autumn. 9,000 […]

More technology jobs to be cut at RBS

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Royal Bank of Scotland (RBS) will cut about 900 tech jobs in the UK, according to a Reuters report. At the end of last year, RBS’s domestic workforce stood at 64,000 people. Since March this year, the bank has cut at least 2,700 jobs in the UK, mainly across its branch network. The latest job […]

Digital drives DNB to cut branches and staff numbers

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DNB will close more than half its branch offices and lay off 600 employees as the rise of digital banking takes its toll on the physical world. The Norwegian bank says “almost all” of its customers have become digital and points to the success of its Vipps app – the number one downloaded app in […]

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