Morgan Stanley Cuts About 1,500 Jobs in Efficiency Drive

The video discusses efficiency in cost reduction post-crisis, focusing on US and European banks. US firms initially led in cost-cutting, with Citigroup consistently reducing jobs. Recently, European banks have announced significant job cuts. The video also highlights banks' investments in technology and cybersecurity, suggesting a need to balance workforce size for sustainability.

What does the term 'efficiency' refer to in the context of cost management in banks?

How have US firms responded to revenue drops in terms of cost-cutting?

What areas are banks focusing on for job cuts according to the text?

What role does technology play in the current workforce of banks?

Why might banks consider trimming their workforce according to the text?