Expense management

Credit Suisse Group plans to announce the departure of Chief Executive Thomas Gottstein, The Wall Street Journal reported, part of efforts to turn around the struggling company. 

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.

Goldman Sachs Group plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses.

When Goldman Sachs executives set out to woo investors in early 2020, they offered a promising outlook for their novelty Main Street business. The unit would go from a money-suck to break-even in 2022. It isn’t quite working out that way. 

Goldman Sachs Group plans to anchor a new office tower in Dallas that would hold thousands of employees, part of the bank’s expansion beyond its Manhattan base.

The Dallas bank is joining the branch-consolidation trend that has accelerated during the pandemic, announcing plans to shutter 22 branches in Michigan, Texas and California.

Credit Suisse Group Chief Executive Thomas Gottstein batted away questions on whether the bank is a takeover target and said he’s still holding out hope for a profitable second quarter.

The chief executive of Klarna Bank has polarized opinion on social media after posting a contact list of former employees recently dismissed by the Swedish company as part of a drive to curb costs.

PayPal Holdings began laying off staffers who worked in risk management and operations this week as the firm seeks to shore up profits after growth in spending on its platform stagnated in recent quarters.

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.