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881 Job Cuts Driven By AI Are Rising On Wall Street

Slashdot
BeauHD @ Slashdot · 04/21/2026 16:00 EDT

Job Cuts Driven By AI Are Rising On Wall Street

Firms like Bank of America, Citi, Wells Fargo, and others are reporting strong profits while reducing head count and automating more work. "All of them credited A.I. to some degree ... in areas ranging from the so-called back office, where tens of thousands of employees fill out paperwork to comply with various laws and regulations, to the front office, where seven-figure salaried professionals put together complicated financial transactions for corporate clients," reports the New York Times. From the repor

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