The number of full-time employ

2023-04-23

The number of full-time employees at the six largest U.S. banks collectively fell fractionally in the first quarter, reversing a positive trend in a sign of a cooling economy, according to updates this week.

The banks disclosed a total of 1,117,602 people on their collective payrolls as of March 31, down about 0.2%, or 2,569 people, from 1,120,171 on Dec. 31.

$Goldman Sachs(GS.US)$ reported the steepest percentage drop of 6.4% as it carried out announced plans to downsize. Wells $Wells Fargo & Co(WFC.US)$ was next with a 1.1% drop and $Morgan Stanley(MS.US)$ trimmed slightly, while $JPMorgan(JPM.US)$ and $Bank of America(BAC.US)$ added jobs fractionally. $Citigroup(C.US)$ remained flat.

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