Data released by Bloomberg shows that banks’ teams have been suffering increasing jobs cuts since the 2008 financial crisis. The institutions have indeed cut nearly 600,000 jobs worldwide over the past 7 years.

American bank Citigroup which is present in more than 100 countries ejected about 140,000, a third of its personnel, of its employees over the globe. Royal Bank of Scotland (RBS) who launched in 2009 a clean-up scheme of its personnel by letting go of a major portion of its overseas assets, cut nearly 53% of its personnel, more than 100,000 jobs.

Job cutting should continue over the next years.

In fact, Citigroup planned for the cutting of 2,000 more jobs this year. Deutsche Bank will cut 26,000 jobs by 2018 and Italian UniCredit SpA announced it would soon cut 18,200 jobs from its personnel.

These plans are due to many facts knowingly, a decreasing profitability and the increasing digitalization banking transactions (mobile banking, data treatment via Big Data, automated e-market, etc).