Compensation
The Pittsburgh-based regional bank expects to save $325 million next year as it reduces its staff by 4%. Executives said the cuts are necessary because revenue has fallen amid a surge in interest rates and a decline in loan volumes.
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The job cuts came after CEO Bill Demchak said in July that he was "taking a hard look" at opportunities to reduce expenses. PNC joins a growing list of banks that have laid off workers amid declining growth prospects.
October 11 -
Employees are more likely to view diverse and inclusive environments as healthier places to work, according to new research presented at American Banker's Most Powerful Women in Banking conference.
October 5
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The former Bank of the West CEO told honorees at American Banker's Most Powerful Women in Banking NEXT Awards ceremony to be confident in themselves, but also to have empathy for others as they strive for senior management positions.
October 4 -
At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.
October 4 -
When running a bank branch, there are certain employee behaviors that must be nonnegotiable. But that still leaves plenty of room for improvisation and creativity.
September 28 -
During Hunger Action Month, firms in the payments and fintech space should consider the many ways they can leverage their products to improve Americans' access to healthy foods.
September 25 -
Dawson Her Many Horses, a commercial banker at Wells Fargo, is a pivotal player in an effort among tribal leaders, the federal government and the private sector to improve the availability of economic data about Native American communities to encourage outside investment there.
September 19 -
Revenue challenges are driving the Utah bank's plan to reduce expenses, according to CEO Harris Simmons. "I talk to our peers, and everybody's looking for ways to cut costs," he said.
September 14 -
Frontline staffers are asking for better pay, internal talent development programs and more flexible work environments.
September 13
