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.

Meaningful progress on DEI initiatives has a real effect on the workforce. We examine the dynamics that drive this conclusion and what it means for companies.

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.

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.

The cuts are said to be part of a plan to trim headcount by about 300 people — or 3% of overall jobs — across the corporate and investment bank.

At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.

The Detroit-based firm said the job cuts will occur across divisions and aren't isolated to a single line of business.

The bank has already axed 5,000 jobs this year, costing $400 million in severance in the second quarter alone. This next phase will be more about eliminating the executive roles that sit two or three layers below the CEO.

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.

The suit alleged that many off-duty cops picked up shifts at TD as security guards, only to go unpaid or wait months for their paychecks. The settlement did not include an admission of liability by the bank.

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.

The Mer Rouge State Bank in Louisiana and Mission National Bank in San Francisco are among 184 banks to receive $70 million of grants from the Bank Enterprise Award Program, its largest awards ever.

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.

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.

Frontline staffers are asking for better pay, internal talent development programs and more flexible work environments.

At least four of CEO Jane Fraser's senior deputies got new roles in the shakeup, which will result in a number of job cuts.

Hybrid working made it easier for some women to pursue a career while balancing family demands but a renewed return-to-office push may reverse some of those gains, a report predicted.

Women are still underrepresented in senior management positions in 62 European banks, according to a new report that highlighted how nine banks employed no women at all in their top executive group.

Bessant has served in a variety of leadership positions at the bank, including leading its technology initiatives and European strategy.

As the company prepares to slash headcount, CEO Solomon speaks up about his "caricature" portraits in the media