At the height of the coronavirus pandemic last spring, the heads of U.S. banks including Morgan Stanley , Bank of America Corp and others pledged not to cut any jobs in 2020 because it was the wrong thing to do. Compared with April projections, bank economists and executives expect the U.S. economy to take longer to recover, with high unemployment into 2021 and interest rates staying near zero for the foreseeable future. “No question, layoffs (will) come across the board for all the banks,” said Barry Schwartz, chief investment officer at Toronto-based Baskin Wealth Management, which invests …read more
Source:: Yahoo Finance
