Big banks reassure staff about potential job cuts

Financial Post | Mar 27, 2020 at 1:16 AM
  • Big banks are postponing decisions about staff cuts as the coronavirus outbreak hits their businesses hard.
  • Morgan Stanley, Goldman Sachs Group Inc, Wells Fargo & Co, Deutsche Bank AG, HSBC Holdings PLC and Citigroup Inc were among those on Thursday reassuring staff privately or through public statements that job cuts are not on the table.
  • Banks are usually quick to fire staff in hard times and hire again when conditions improve.