Bank Headcount Declines Again, Equities Wobble

U.S. banks reduced headcount 0.2% during the fourth quarter, according to S&P Global Market Intelligence. Despite the cuts, noninterest expenses rose, contributing to lower efficiency ratios during the period. The number of industry employees has now declined for seven consecutive quarters, marking a 3.5% decline in headcount since the fourth quarter of 2022. 

Another S&P article discusses how inflation expectations and negative consumer sentiment are weighing on bank stocks.

------------------------------
Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
------------------------------