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Job cuts announced by European banks tumble in 2016

Reuters  |  LONDON 

By Ritvik Carvalho and Anjuli DaviesLONDON (Reuters) - Job cuts announced by European banks have tumbled in 2016, as they work through a backlog of layoffs unveiled in previous years and struggle to find new areas where they can trim staff without threatening profitable operations.Some industry watchers say lenders might even recruit a little next year overall, provided the market rally following Donald Trump's U.S. presidential election victory continues, although banks themselves are looking to joint ventures with rivals to cut costs further - signalling more layoffs.On Tuesday, UniCredit ...

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First Published: Thu, December 15 2016. 20:12 IST