Well, this is originally from a Bloomberg report and picked up in India. Maybe a new management technique is to use layoff announcements as a motivation technique.
If you dive into the layoffs (using this site) you will find they are mostly for non-customer-facing Tampa Bay Florida service workers (according to this post www.thelayoff.com/t/1lREeH2c) I sense that this juggernaut, especially in the AI space, is just starting.
Per their report -- you need them to leverage AI to be efficient.
"The McKinsey Global Institute (MGI) estimates that across the global banking sector, gen AI could add between $200 billion and $340 billion in value annually, or 2.8 to 4.7 percent of total industry revenues, largely through increased productivity.1 However, as banks and other financial institutions move to quickly implement the technology, challenges are emerging. Getting gen AI right can potentially unlock tremendous value; getting it wrong can lead to complications. Companies across industries face gen AI risks, including the generation of false or illogical information, intellectual property infringement, limited transparency in how the systems function, issues of bias and fairness, security concerns, and more."
https://www.mckinsey.com/industries/financial-services/our-insights/scaling-gen-ai-in-banking-choosing-the-best-operating-model?cid=sig-eml-nsl-mst-mck-ext