Bank Cuts Back Office Jobs by 15 Percent

A bank announced it will cut back office positions by 15 percent. The reductions focus on roles the bank described as lower value human capital. The move comes as automation and AI systems take over tasks previously performed by employees. Officials said the changes reflect broader shifts in how work is organized.

The announcement follows earlier reports of similar reductions at other financial institutions. No specific timeline for the layoffs was provided in the statement. Employees in affected departments will receive severance packages and outplacement support, according to the announcement. The bank did not disclose how many positions are involved in total.