Since the year 2008 the global banks around the world have been trying to squeeze their jobs and make their work easier. The global banks across the world have started cutting the jobs due to the US economies squeeze revenues. There has been push from the regulators to resist more capital and companies structure business which will bring profitability. Some of the banks of the globe include 50 banks HSBC Holdings,Credit Suisse and Bank of America followed by other banks.

These banks around the world have almost reduced about 60,000 since the starting of the year 2011 from month of January. According to the statements given by the company and from Bloomberg there will be about 101,000 jobs cut for this year alone. Most of the positions where targeted previously in the year 2008 and was about 192,000 positions due to some of the reasons. The reasons for the slashes in the global bank jobs is the loan losses,credit crunch happening globally and the unprecedented government bailouts. A bank like HSBC is trying to send about 30,000 workers to home released a firm from London as on August 1 and is the first announcement.

The London based firm data is the first data release and is the first announcement over Banks cutting jobs while Bank of America had given it during 2008 year. The low interest rate which continues along with the stagnant loan growth and the debt cards new rules will reduce the overall bank earnings in US. The regulators have started to seek to avoid the financial crisis and the blunt of the European sovereign debt defaults are main reasons for holding back the bank capital.