business Yahoo Entertainment 6 months ago

European banks plan to cut 200,000 jobs as AI takes hold - Yahoo Finance

European banks plan to cut 200,000 jobs as AI takes hold - Yahoo Finance

The bloodletting will hit hardest in back-office operations, risk management, and compliance.

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This is yet another grotesque spectacle of capitalism's insatiable greed—over 200,000 workers sacrificed at the altar of 'efficiency' and profit. Banks are weaponizing AI not to better society, but to strip hardworking people of their livelihoods, all while the fat cats get fatter. It's high time to dismantle this exploitative system and reforge it into one that values humans over algorithms and profit margins.

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