Bank Layoffs Exceed 100,000: Where the Cuts Are

Banks are shedding jobs worldwide as stricter regulations and a tough second quarter for trading income take their toll on investment banking units in particular.

Susan Trigg | Getty Images

JPMorgan said on Thursday it would cut 1,000 jobs from its investment banking division over the next 18 months.

The layoff plan brings staff cuts announced this year or reported to be in the works at U.S. and European banks to just over 100,000 — some to be lost over the course of three- or four-year programs.

Many, including Royal Bank of Scotland, Lloyds Banking, Citigroup and Bank of America , had already cut thousands of jobs after the financial crisis.

This year's job cut estimates are also likely to be conservative figures, as not all banks trimming teams have publicly announced layoffs, and the number does not take smaller investment banks, boutiques and brokers into account.

The following is a summary of total cuts announced by major banks:

Job Cuts by Major Banks

Banks	Job Cuts	Total Staff
HSBC (HSBA-GB)	30,000	295,995
BANK OF AMERICA (BAC)	30,000	287,839
LLOYDS BANKING (LLOY-GB)	15,000	103,859
UBS (UBS)	3,500	65,707
BARCLAYS (BARC-GB)	3,000	146,100
INTESA SANPAOLO	3,000	101,169
ABN AMRO	2,350	26,161
MONTE DEI PASCHI DI SIENA	2,200	31,201
NORDEA	2,000	34,169
ROYAL BANK OF SCOTLAND (RBS)	2,000	148,300
CREDIT SUISSE (CS)	2,000	50,700
BANK OF NY MELLON (BK)	1,500	48,900
RABOBANK	1,200	59,000
BANCO POPOLARE	1,120	19,209
GOLDMAN SACHS (GS)	1,000	35,500
JPMORGAN (JPM)	1,000	239,831
DEUTSCHE BANK (DB)	500	102,062

Source: Reuters