From Europe to Wall Street: AI Cost-Cutting Goes Global

[johnblockbuster]

This shift is not limited to Europe. In the US, Goldman Sachs has already warned staff of job cuts and a hiring freeze tied to its AI-driven “OneGS 3.0” initiative, which targets everything from onboarding clients to regulatory reporting.

European lenders are following suit. ABN Amro plans to cut roughly 20% of its workforce by 2028, while leadership at Société Générale has signaled that no department is off-limits. The message across the industry is clear: automation is no longer optional.

[JanEmil]

I always close the browser if I chat to "AI" bots.

[lingriiddd]

20% workforce cuts is huge, even spread out over a few years