New job cuts at investment and commercial banks are reported over the internet all-too-often.  Yet, many seem fresh and offer a new angle on the topic that Compliance Insights feels compelled to report on them.  [C-I Note:  Hopefully. we're not chasing others who are chasing their own tails.] 

In any event, the latest report comes to us from Bloomberg, 8/8/11 and, is appropriately titled: "Global Banks Poised to Cut 101,000 Jobs."  The 50 largest global banks - including HSBC, Credit Suisse, Bank of America - have, since 1/1/11, disclosed plans for almost 60,000 reductions, according to company statements and data compiled by Bloomberg Industries. 

That pace computes to more than 101,000 jobs this year -- the most since 192,000 positions were targeted in 2008 amid loan losses, a global credit crunch and unprecedented government bailouts.  HSBC announced 30,000 jobs on 8/1, the single biggest job-cutting announcement since BofA said in December 2008 that it would eliminate as many as 35,000 positions. 

Bloomberg has compiled a table of global banks - some outside the "nifty 50 largest" - that have announced at least 500 job cuts so far this year, along with their headcount as of 12/31/10.  See the table after the jump, or go to:  [Bloomberg, 8/8/11]

Column headings for the table:  (i) Bank Name, (ii) Announced Job Cuts, (iii) Total Workforce;  (iv) Cuts as % of 12/31/10 Workforce.

• HSBC Holdings Plc, U.K. - 30,000 cuts - out of 295,061 employees, or 10%.

• Intesa Sanpaolo SpA,  IT. - 3,000 - 102,000, or 2.9%.

• Lloyds Banking Group, Plc, U.K. - 16,800 - 104,000, or 16%.

• Banca Monte dei Paschi di Siena SpA, IT. - 2,500 - 31,400, or 8%

• Credit Suisse Group AG, SW.  - 2,025 - 50,100, or 4%

• Allied Irish Banks Plc, IR.  - 2,000 - 14,255, or 14%.

• Barclays Plc, U.K.  -  3,000 - 147,500, or 2%.

• Bank of America Corp., U.S.  -  1,575 - 286,951, or 0.5%.

• Banco Popolare SC, IT.  -  1,120 - 20,000, or 5.6%.

• Unione di Banche Italiane ScpA, IT.  - 1,000 - 19,700, or 5.1%.

• Goldman Sachs Group Inc., U.S.  -  1,000 - 35,700, or 2.8%.

• Grupo Financiero Banorte SAB, MX.  -  1,000 - 25,000, or 4%.

• Synovus Financial Corp., U.S.  -  850 - 6,109, or 13.9%.

• State Street Corp., U.S.  -  850 - 28,670, or 3%.

• UniCredit SpA, IT  -  700 - 160,000, or 0.4%

• Erste Group Bank AG, AU.  -  550 - 50,272, or 1.1%.

• American Express Co., U.S.  -  550 - 61,000, or 0.9%.

• UBS AG, SW.  -  500 - 64,617, or 0.8%.