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Shiratori-3 t1_j5dwgyz wrote

Bank layoffs are usually a leading indicator on the downturn front? Or have I got that wrong?

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Melkorrrrrrrrr t1_j5e8b62 wrote

Yes and no. They are cutting jobs in investment banking at the moment where the revenue went up like crazy in the last 3 years. Those banks in the article are all investment banks. Banks with substantial private banking percentage are feeling the opposite effect atm since due to the rise in interest rates you now make huge profits by having just normal customer deposits and loans again.

when all sectors get roasted simultaneously, investment banking, corporate banking and private banking, then you should look out

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