(Reuters) - Banks are shedding jobs worldwide as stricter regulations and a tough six months for trading income take their toll on investment banking units.
France’s BNP Paribas is only one of the latest banks to confirm they are also cutting jobs.
At Citigroup (C.N), more than 3,000 staff could go.
Italy’s UniCredit (CRDI.MI) said on Monday it was cutting 6,150 jobs as part of a strategy revamp, while Japan’s Mizuho Financial group Inc (8411.T) is making 3,000 layoffs as it merges two banking units.
The layoff plans brings staff cuts announced this year or reported to be in the works at major banks to 123,000, some of them to be lost over three- or four-year programs.
The job cut estimates are likely to be conservative figures, as not all banks trimming teams have publicly announced lay-offs, and the number does not take into account smaller investment banks, boutiques and brokers.
Below is the latest summary of cuts:
Jobs to be cut Total staff*
HSBC (HSBA.L) 30,000 295,995
UNICREDIT (CRDI.MI) 6,150 160,552
BARCLAYS (BARC.L) 3,500 146,100
INTESA SANPAOLO (ISP.MI) 3,000 101,169
MIZUHO (8411.T) 3,000 57,000
CITIGROUP (C.N) 3,000 267,000
MONTE DEI PASCHI DI SIENA c.2,200 31,201
DANSKE BANK (DANSKE.CO) 2,000 21,567
ROYAL BANK OF SCOTLAND c.2,000 148,300
BNP PARIBAS (BNPP.PA) 1,396 199,300
GOLDMAN SACHS (GS.N) 1,000 35,500
JPMORGAN (JPM.N) 1,000 239,831
NOMURA (8604.T) c.1,000 35,697
DEUTSCHE BANK (DBKGn.DE) 500 102,062
SOCIETE GENERALE (SOGN.PA) c.500 160,700
* According to latest available figure, usually end 2010, mid-year or quarterly reports
Reporting by Sarah White and Ethan Bilby; Editing by Jane Merriman