business / news / / Santa Ana Orange County Register
The bulk of the cuts were at Wells Fargo & Co. The six top US banks racked up $47.3 billion of net income in the first quarter.
Wells Fargo reduced its headcount by 4,199 jobs in the first quarter of 2024.
KEY POINTS
- Citigroup reports over 80% of its 224,000 employees are now using in-house AI tools.
- Citigroup's engineers used AI to remap three decades of coding in just two days.
- US officials recently warned top banks about cyber risks from Anthropic's new AI model, Mythos.
- First quarter 2024 bank job cuts were much larger than the 707 headcount reduction last year.
COMPANIES
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