On March 20th, large financial institutions in the United States are preparing for economic uncertainty. Despite Wall Street’s expectation that the capital market would regain vitality after the US presidential election ended in November last year, the US government’s tariff policies have gradually eroded this optimism. Several large financial institutions in the United States have announced layoffs. Among them, Morgan Stanley Bank plans to lay off 2000 employees by the end of this month, accounting for 2% to 3% of the company’s total workforce. JPMorgan Chase Bank began layoffs in February, expected to affect nearly 1000 employees. In addition to this round of layoffs in February, JPMorgan Chase will carry out multiple rounds of layoffs this year. Goldman Sachs Group has also accelerated employee performance evaluations, with an expected layoff of 3% to 5%, affecting nearly 1400 employees. BlackRock announced approximately 1% layoffs in January. Bank of America’s investment banking division has also cut 150 junior positions.
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