Big Banks Hire 19,000 With Pandemic Boosting Demand for Services
- Most of the top U.S., European banks added to payrolls in 2020
- Many firms have frozen earlier reduction plans during crisis
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The biggest U.S. and European banks added 19,000 people to their payrolls in the first half of the year as demand for loans and other services surged during the pandemic and planned staff cuts were largely put on hold.
Eight of the top 15 firms increased headcount this year through June, while only four reduced it. Three lenders’ staff levels were unchanged from the of end of 2019. Barclays Plc had the largest increase, with more than 7,000 additions, and HSBC Holdings Plc had the biggest reduction, cutting almost 3,000 positions.