Morgan Stanley warns of major workforce cuts driven by automation
More than 200,000 jobs in the European banking sector could disappear within the next five years as banks accelerate the adoption of artificial intelligence and shift operations online, according to an analysis cited by the Financial Times.
Analysts at Morgan Stanley estimate that European banks may cut around 10% of their workforce by 2030. The study covers 35 lenders employing about 2.12 million people, implying roughly 212,000 potential job losses.
Read full article here: turnovernews.com
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