Mass Layoffs To Hit Banking Industry As Consumers Ditch Big Box Banking
The days of big banks are done. Million dollar buildings that double as empty fortresses will soon be empty, or conveniently turned into FEMA holding centers when the collapse hits.
The tide is turning and the banks know it. Mass layoffs have been announced by almost every major institution in the world and this is just the beginning. Unfortunately small town America will be hit the hardest as some of these jobs are the highest paying in the household. Also taking a major hit will be Charlotte, NC, the banking center of the US, where Wells Fargo has over 22,000 employees, Bank Of America 15,000 and most major banks have a presence. Be on the lookout for some great real estate deals in Charlotte soon.
Bank have many problems. They have over expanded at a rate that doesn’t support demand, consumers don’t trust them, the average american has no savings, there has been a drastic shift to online banking, and probably the most important, they lack innovation. But don’t worry, Capital One is here to change the game with their roll-out of 360 internet cafes according to a recent article in Boston.com
These bank guys aren’t too creative. The banking industry is old, outdated, and lacks any innovation that would warrant me to ever keep my money in a bank. The most successful roll out banks have ever had was the introduction of the ATM and that was over 36 years ago.
As Americans continue to distrust banks, have no money to save, and migrate to online banking, big banks will be taking big hits. This is just the begging of the bloodbath where I foresee 50% of the current workforce being laid off in 6 years. Below is just the start of a long list of bank layoffs and closures.
ANNOUNCED LAYOFFS
► HSBC to shed 50,000 jobs in quest for higher payouts
► RBS: Up to 30,000 Royal Bank of Scotland Layoffs Planned
► Barclays to Cut 30,000 Jobs by 2017
► Bank of America to layoff 16,000 in 2015
► RBS cutting up to 14,000 investment banking jobs by 2019
► J.P. Morgan Aims to Cut 5,000 Jobs
Wells Fargo Layoffs Just Getting Started?
TD Bank Warns Of Job Cuts As Profits Hit 2 Billion…
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