Ax Falls at Smaller Banks

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WSJ
Cuts at Lenders as Industry Job Growth Slows: 'There Will Be More to Come' .


Smaller U.S. banks and savings institutions are cutting jobs in a sign of a deepening financial-industry retrenchment that is shaking firms from Main Street to Wall Street.

More than 2,500 banks cut their work forces in the third quarter, reducing their staff by a combined 20,332 jobs, or 2.5%, according to an analysis by The Wall Street Journal of filings with U.S. banking regulators. Overall, the industry grew by 5,012 jobs to a total of 2.1 million workers, the smallest increase since bank employment fell in 2010's first quarter.


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