Bank Job Gains Buoy Profit as U.S. Lenders Cut: Corporate Canada
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Canadian banks, bolstered by profits per employee 31 percent higher than U.S. lenders, added more than 2,800 workers in the most recent quarter while Bank of America Corp. and Washington Mutual Inc. shed thousands of jobs.
For every worker hired at one of Canada’s eight main lenders in the first fiscal quarter, three were let go by their U.S. counterparts, according to bank statements and data compiled by Bloomberg. Staffing at the 10 largest U.S. banks declined by 8,577 people in about the same period, according to Bloomberg data.