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16 Apr 2026
Wall Street banks cut more than 5,000 jobs even as they notch record profits
[NEW YORK] The biggest banks on Wall Street did not let record earnings stop them from trimming more than 5,000 jobs in the first quarter.
The bulk of the cuts were at Wells Fargo, which reduced its headcount by 4,199 jobs in the first three months of the year, followed by Citigroup with 2,000 and Bank of America with 1,073. JPMorgan Chase and Morgan Stanley added staff.