Europe’s Banks Brace for a 200,000-Job AI Shock

[johnblockbuster]

Europe’s banking industry is heading toward a major workforce reset. A new analysis from Morgan Stanley, reported by the Financial Times, suggests more than 200,000 banking jobs could disappear by 2030 as artificial intelligence reshapes operations and accelerates branch closures across the continent.

The cuts are expected to hit back-office functions first — including compliance, risk management, and administrative roles — where AI systems can process data faster and at lower cost. Banks are targeting efficiency gains of up to 30%, a figure that explains why automation has moved from experimentation to execution.

[JanEmil]

Sounds like a big lay off.