Lionel Laurent, Columnist

Europe's Banks Need More Cuts

Cost reductions haven't been enough to revive the profitability of the region's lenders.

February 3, 2016 at 10:16 AM UTC

Lionel Laurent is a Bloomberg Opinion columnist writing about the future of money and the future of Europe. Previously, he was a reporter for Reuters and Forbes.

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Rarely has an industry lost so many jobs with such little effect.

HSBC has frozen hiring and pay; Barclays plans to cut 1,200 investment banking jobs; and Deutsche Bank will cut bonuses after posting a stinging loss for 2015.