In particular, don’t cut global markets technology! Technology are automating lots of things that can save bank money! Redundancies are in front office! Rank revenues by team or headcount, and cut front office team (aka business people) that don’t generate revenue directly!
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The days of Obama and his party's cronyism are still with us until they are actively nullified by a government that knows how to do things right
Hahahahahaha.
As long as orange in charge keeps making me $1500/day I don't give a sh-- how racist or dumb he or his audience (you) is. I'm happy!!! Keep up the hate. I'll keep cashing out.
As long as the diversity numbers are met, nobody cares how many and where they are from! The days of Obama and his party's cronyism are still with us until they are actively nullified by a government that knows how to do things right, and get things done! Diversity numbers as a means to an end, is and was, just ridiculous.
They can get 3 workers who can do half the work and will eventually be fixed by an American.
Don’t worry, the company isn’t going to cut technology. They will just outsource to Europe or India. They can get 3 workers there fore the same cost as U.S workers.
@6zyk, you're behind the times. Software and technology are no longer "supporting" functions for the business, they ARE the business these days. The better your software and infrastructure, the better your business.
can't think of anything that is more expensive other than healthcare for employees and lawsuits.
It's obvious you haven't met my other half.
Technology and people needed to run and manage tech never make money for the bank, IT is a money taker costing the bank, can't think of anything that is more expensive other than healthcare for employees and lawsuits. Since most everywhere retires it's older workforce, the bank should be winning on that cost, the lawsuits may be another story, and there is always another financial crises that could happen within the next 10 years, hope not... but the propped up financial systems seems fragile.
Sleepless night.
Yes, the bank is largely a collection of computer system applications, so consequently the programmers are more important than the bankers. But that's not how the top people view it. To them, GTO is a cost to eliminate/reduce/outsource, and the other people are the geniuses behind all the profits (and caused the world to collapse 10 years ago).
Unlike sales or traders, front office business people do not generate revenue directly. Their jobs can be done by risk, tech and ops. They get paid more just because they are in front office. Management should shrink these teams.
We need more business people so we can receive more bills like this!
https://www.cnbc.com/2018/03/23/bank-of-america-in-42-million-settlement-for-masking-trading.html