Blaming “Lower Interest Rates,” Northern Trust, the #3 Trust Bank, Quietly Laid Off 500 People Last Week. #2 BNY Mellon Quietly Followed This Week

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by Wolf Richter, Wolf Street: “Lower interest rates… reduced our earnings in 2020 and will put pressure on our profitability this year.” After having promised, no layoffs in 2020. But this is 2021. Northern Trust Corporation’s promise early in the Pandemic to abstain from layoffs in 2020 expired on January 1, and last week, the […]
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