Big Banks Start Adding Staff After Cutting 802,000 Jobs

The video discusses the impact of the 2008 financial crisis on job cuts in the banking sector, highlighting a shift in trends with some banks stopping cuts and even expanding. It explores the role of technology in replacing jobs and the ongoing challenges in asset management, including potential mergers to reduce costs. The video also covers the trend of branch expansion by major banks like JP Morgan and Bank of America, despite previous closures.

What is the trend in job cuts among banks since the 2008 financial crisis?

• No banks are adding jobs.

• Job cuts have increased across all banks.

• Some banks have stopped cutting jobs while others continue.

• All banks have stopped cutting jobs.

How has technology impacted job trends in the banking sector?

• It has only affected non-banking sectors.

• It has created more jobs than it has replaced.

• It has had no impact on job trends.

• It has replaced some jobs, contributing to job cuts.

What is a significant trend in the asset management divisions of banks?

• They are unaffected by cost pressures.

• They are expanding without any mergers.

• They face massive cost pressures and potential mergers.

• They are hiring more employees than ever.

Which banks are considering expanding their branch networks?

• All banks have stopped expanding branches.

• Only international banks.

• Only small banks in the US.

• JP Morgan and Bank of America.

What challenge do big asset managers face?

• No competition in the market.

• Lack of technological advancement.

• Competition from lower-cost funds.

• Increased profits from ETFs.