(Bloomberg) -- Some 20,000 job cuts just in the last month. European banks continue to downsize under pressure from a host of ills ranging from challenging markets and low interest rates to rising regulatory costs and legal charges. “Many of these cuts are necessary because of the overly fragmented nature of euro-area banks,” Bloomberg Intelligence analysts Jonathan Tyce and Arjun Bowry said in a note Monday.
To contact the reporter on this story: Macarena Munoz in Madrid at mmunoz39@bloomberg.net.
To contact the editors responsible for this story: Simone Meier at smeier@bloomberg.net, Cindy Roberts, Jon Menon
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