📝 European Banks could lose 200k+ jobs

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The global banking establishment has inaugurated 2026 by declaring an end to the era of human-centric back-office operations, as a landmark Morgan Stanley analysis reveals that 212,000 European banking jobs, a staggering 10% of the sector's workforce, will be eliminated by 2030 to artificial intelligence. Driven by a ruthless hunt for 30% efficiency gains, institutions like ABN Amro and Société Générale are gutting the "unglamorous guts" of risk management and compliance, while Wall Street’s elite, led by Goldman Sachs’ "OneGS 3.0" strategy, freeze hiring to automate everything from client onboarding to regulatory reporting. Yet, as the industry chases immediate profitability, a growing chorus of veterans, including leadership at JPMorgan, warns that this wholesale automation of "grunt work" is effectively hollowing out the talent pipeline, potentially leaving the next generation of financial leaders without the fundamental grasp of market mechanics necessary to navigate the next great crisis.

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