Cartoon: Dancing in the rain
This new cartoon illustrates how different companies are dealing with the onset of the recession.
Job Cuts
News, intelligence and resources on the global fintech industry including topics such as job cuts.
FinTech Futures: Top five stories of the week – 5 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Growth capital firm Clearco cuts 125 jobs citing “significant” economic headwinds
Clearco founders cite rising interest rates, high inflation and e-commerce growth slowdown as factors.
Robinhood to cut 23% of staff, crypto unit fined $30m
Robinhood CEO Vlad Tenev says previous staff cuts announced in April “did not go far enough”.
Don’t let the doom and gloom clip your fintech’s wings
The key to managing this downturn is to focus entirely on your own circumstances.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Digital challenger Varo Bank lays off 75 employees in effort to cut costs
CEO Colin Walsh says the firm is “not immune to the impacts of our current environment”.
Banking Technology Magazine July / August 2022 issue out now
Cover story: MAKING THE DREAM WORK – Helping Ukraine in a planet-friendly way.
Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility
As well as the layoffs the wealthtech will be “laser-focused” on core businesses investing, banking and crypto.
Layoffs and hires: Curve, Gemini and Citigroup
Curve and Gemini lay off employees, while Citi plans on hiring 4,000 techies.
Blockchain-based trade finance platform we.trade shuts shop
We.trade claims to be “the world’s first enterprise-grade blockchain-enabled trade finance platform”.
FinTech Futures: Top five stories of the week – 27 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payments fintech Bolt announces layoffs
The news follows a string of layoffs in the fintech space in recent weeks.
BNPL giant Klarna to cut 10% of workforce amid “tumultuous year”
Klarna CEO says he remains “relentlessly optimistic” about the firm’s future.
US fintech MainStreet lays off 30% of employees
CEO Doug Ludlow cites “today’s incredibly rough market” as the reason for the layoffs.
Property lender Better.com lays off more than 3,000 staff in fresh cuts
The announcement was made by the company’s interim president Kevin Ryan via an e-mail to affected staff.
Video: fintech news pick of the week – Better.com, WeLab & Rapyd
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Better.com CEO apologises after laying off 900 workers over Zoom
CEO Vishal Garg says he “blundered the execution” following a barrage of criticism.
Fired credit union employee deletes 21GB of internal data in 40-minute spree
Juliana Barile accessed her old account and destroyed sensitive documents.
Video: fintech news pick of the week – Revolut, Deutsche Bank and Pleo
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
2020 review: A year which saw fintechs cut jobs, pay & business arms
A number of fintechs have still been tested during COVID-19, some to the brink of collapse.
2020 review: 10 largest bank job cuts this year
This year has seen several job cut announcements.
Citigroup restarts job cuts after coronavirus pause
US lender plans big infrastructure changes in the final months of the year.
The time for reskilling is now: how to go about it in a post-pandemic world
We have just six months to prepare for the new work environment – let’s be strategic about our upskilling options.
Wells Fargo resumes job cuts after pandemic break
Layoffs, branch closures and cuts to third-party spending are on the table.
Wells Fargo mulls job cuts amid loan losses
The major US bank is looking at a strategic overhaul.
Fintech start-up Synapse cuts 50% of full-time staff
It also signalled its intention to move more of its workforce to Texas.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
COVID-19: Weekly wrap
FinTech Futures’ weekly coronavirus news wrap.
HSBC delays ‘vast majority’ of redundancies amid COVID-19
“Because of the extraordinary impact of the COVID-19 pandemic,” says Noel Quinn.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
Top executives at SoftBank’s $100bn Vision Fund set to leave
Top of the list is Michael Ronen, the managing partner of the Vision Fund’s US investments.
HSBC plans new restructure with France and USA in firing line
The global bank is aiming to cut costs and weed out loss-making divisions.
Wells Fargo plans to cut 26,500 jobs
Significant job cuts expected over the next three years, according to CEO.
Deutsche Bank to cut 7,000 jobs
One in four jobs in its equities sales and trading business to go.
Deutsche Bank to axe 500 investment banking jobs
Also looking to cut costs and may relocate its client business out of UK in response to Brexit.
But what about the human cost of automation?
New research from recruitment agency Robert Half has outlined the jobs which are under threat from automation, but when are we actually going to talk seriously about the dark side of artificial intelligence (AI)?
Top fintech stories this week – 21 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
70% of jobs in developing markets under threat from AI – report
A new report from the International Bar Association has outlined the risks and rewards of artificial intelligence (AI), which while bordering on scaremongering also makes some good points.
Standard Chartered to shed corporate and institutional banking jobs
Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount. The job cuts will start in Hong Kong and Singapore and will eventually affect all major business hubs of Standard Chartered.
Discover how to: ✅Reduce late payments, ✅Reduce fees ✅and time-spent on admin tasks. Too good to be true? Our cu… twitter.com/i/web/status/1…
M&T Bank hires Ishet Dhar as chief digital officer @MandT_Bank has appointed Ishet Dhar as its new chief digital o… twitter.com/i/web/status/1…
#Crypto ecosystem @NebeusWorld partners @ModulrFinance to bridge fiat and crypto 🤝 European crypto platform Nebeus… twitter.com/i/web/status/1…
#Paytech consultancy Focused Labs joins Stripe partner ecosystem Focused Labs has joined the @stripe partner ecosy… twitter.com/i/web/status/1…
. @TrustfolioLtd teams up with @Equifax for open banking-powered debt advisory solution ‘Debt-tech’ firm Trustfoli… twitter.com/i/web/status/1…
Banks, broccoli and the peril of going out of date 🏦🥦 M&S has removed expiry dates from its food – a welcome move,… twitter.com/i/web/status/1…
Fintech start-up @join_arc lands $20m in Series A #funding 🇺🇸 US fintech start-up Arc has raised $20 million in a… twitter.com/i/web/status/1…
. @NIBANK selects @Temenos to modernise digital banking services Antigua and Barbuda-based North International Ba… twitter.com/i/web/status/1…