Top US Banks Reduce Workforce by 10,000 Positions Last Year, Marking Biggest Decline in Nearly Ten Years
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2026
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Source: aastocks
Workforce Reduction: The largest US banks saw a workforce reduction of approximately 10,600 employees in 2025, marking the largest decline in nearly a decade and bringing total employment to about 1.09 million.
Historical Context: This reduction is the most significant since 2016, when the banking sector experienced a decrease of around 22,000 employees year-over-year.
Non-Farm Payrolls: In related economic news, the US non-farm payrolls for December reported an increase of only 50,000 jobs, falling short of the forecasted 60,000 and down from the previous month's 56,000.
Current Employment Levels: The current employee count in the largest US banks is the lowest since 2021, indicating ongoing challenges in the banking sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
