From mild to wild: What impact will AI have on banking jobs? Banking Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
‘It will reduce jobs’ – Jamie Dimon sounds off on AI’s impact on banks Banking One of the world’s leading financial figures has warned AI will inevitably lead to a cut in jobs amid growing jitters around the impact the new tech will have on the banking sector. Jamie Dimon – the top boss of America’s largest bank, JP Morgan – said: “I think [AI] will reduce our jobs down [...]
European banking jobs face AI reset ‘not mass job losses – for now’ Banking European banking jobs are in line for a boost from AI despite widespread fears the integration of new tech will trigger mass layoffs, according to fresh analysis. The headcount at the top lenders is expected to get a four per cent average uplift, analysts from Bloomberg Intelligence said in a new note. The increase is [...]
Close Brothers to axe fifth of jobs after motor finance ‘wipeout’ warning March 17, 2026 Close Brothers has warned it will cull as much as a fifth of its headcount as the bank continued its aggressive cost-cutting strategy following mounting losses linked to the motor finance scandal. The FTSE 250 bank said it would axe a staggering 600 full-time roles by the end of the 2027 financial, which represents around [...]
Services sector cuts jobs and hikes prices after Reeves’ tax raid March 4, 2026 The UK’s services sector has turned to hiking prices and shedding workers in an effort to balance the books in the face of rising cost pressures from government policy. Businesses activity picked up for the tenth-consecutive month in February, according to the latest Purchasing Manager’s Index (PMI) from S&P, but came amid a “solid” amount [...]
Blair think tank turns fire on Labour over wage hikes and tax squeeze March 1, 2026 Tony Blair’s think tank has published a critique of Labour’s economic strategy, warning that higher minimum wages, rising employers’ National Insurance and tougher workers’ rights risk choking off growth and pricing young people out of jobs. In a striking intervention from the former Labour prime minister’s own policy institute, the report deems the government’s labour [...]
Private sector axes more jobs amid Reeves’ tax and wage pressures February 20, 2026 The UK’s private sectors culled jobs for the seventeenth consecutive month in February led by a significant drop in the services sector as businesses were still digesting the impact of Labour’s 2024 Autumn Budget. The latest flash Purchasing Managers Index (PMI) from S&P Global described the rate of job shedding in February as at a [...]
Britain needs to ‘encourage enterprising entrepreneurs’ to kick-start economy October 22, 2025 Britain “needs to be a nation of shopkeepers once again” and “encourage enterprising entrepreneurs” to boost its economic prosperity, the chief executive of recruitment giant Reed has said. Speaking on an up-coming episode of CityAM‘s Boardroom Uncovered podcast, James Reed said if he was Prime Minister for the day, he’d “make Britain a destination [...]
Rachel Reeves’ tax hikes are ‘taking Britain back to 1980s’ as investors turn their backs September 15, 2025 Britain’s jobs market is being hollowed out just like it was in the 1980s thanks in part to Chancellor Rachel Reeves’ tax hikes, the chief executive of recruitment giant Reed has said, as the CBI warns the country is now seen as a less attractive place to invest than five years ago. James Reed said [...]
OpenAI: The Big Tech that took your job wants to get you a new one September 15, 2025 London’s job market is feeling the squeeze. Permanent hires fell for the fifth month in a row, while temporary placements have tumbled for the twentieth consecutive month, according to KPMG and the Recruitment & Employment Confederation (REC). Rising costs, tax raids, and the ongoing impact of AI on entry-level roles have left employers cautious and [...]