Strategic planning

Credit Suisse Group is considering cutting the bonus pool for 2022 by about half, according to people familiar with the matter, capping a grim year in which the bank was forced to raise $4 billion after a string of losses.

As customers increasingly do their banking via smartphone apps and online, Santander and Argentine rivals including BBVA Argentina, Grupo Financiero Galicia and Grupo Supervielle, like their global peers, are pushing to close physical locations. But regulators won't let them.

Goldman Sachs is embarking on one of its biggest rounds of job cuts ever as it locks in on a plan to eliminate about 3,200 positions this week, with the bank's leadership going deeper than rivals to shed jobs.

The National Credit Union Administration must justify its sharply higher operating budget for next year.

Goldman Sachs Group aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead.

Plaid said it cut 260 staffers Wednesday after changing macroeconomic conditions forced it to rein in costs.

CEO Bill Rogers affirmed the North Carolina bank's commitment to an expansion of Truist Insurance Holdings. But he declined to comment on a recent report that the company was exploring the potential sale of up to 30% of the business.

Fidelity National Information Services plans to dismiss thousands of workers as part of incoming Chief Executive Stephanie Ferris's strategy to win back investor confidence after the fintech giant slumped 44% this year.

Six years after buying a bank, the New York company plans to sell its banking unit to a group of investors. The decision to refocus on its core businesses comes 18 months after Thasunda Brown Duckett took the reins as CEO.

Stripe, one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.

Credit Suisse Group reported its fourth straight loss as its investment bank continued to struggle, wealthy clients fled and the lender booked a charge related to a critical overhaul that's been in the making for months.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

Rather than trying to reach the masses, which proved to be expensive, Goldman is focusing on marketing its online banking platform to its existing pool of wealth management clients. The investment bank has learned that it's "better to play to our strengths," CEO David Solomon said Tuesday.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.

Klarna Bank, months after announcing major job cuts and taking a $39 billion hit to its valuation, is planning to restructure parts of its business further to suit a slower-growing, smaller operation, people familiar with the matter said. 

The Phoenix bank is forming an executive leadership team that it said will ensure continuity within its senior ranks. The moves come five months after CEO Kenneth Vecchione received a contract extension through at least 2024.

Since last year, banks have sharply reduced what they charge when consumers spend more money than they have, according to new research. Monthly maintenance charges and fees for using out-of-network ATMs have remained much more stable.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.