European banking reduced its workforce by 500,000 jobs

European banking has reduced the number of branches and staff since the outbreak The financial crisisAnd, only in the ten years preceding the pandemic, half a million jobs were destroyed in this sector, and Spain was the country most affected.

At the end of 2019, the banking sector was using European Union To 2.6 million people, however, it is the lowest number in the historical series for European Central Bank That started in 1997 and represents 500,000 fewer jobs than it did at the end of 2009.

The countries with the largest number of bankers coincided with the countries with the largest financial centers in Europe: Germany, France, the United Kingdom, Italy and Spain, which employ about 68% of the total, according to a report by European Banking Union.

The Big Five had about 1.78 million bank employees in the year before the pandemic, with Germany having about 578,600; France, nearly 400,000; United Kingdom, about 344,000; Italy, just over 280,000 and Spain, around 173,500.

A decade ago, at the end of 2009 and after the first cuts due to the major financial crisis, banks in these same countries employed 2.15 million people thanks to the fact that Germany had 663,000 workers in this sector; France: 458,370; United Kingdom, 431,665; Italy 328,582 and Spain 269,483.

This means that these five countries destroyed more than 370,000 jobs in this sector, and Spain took the worst part since it created nearly 100,000 jobs, over the United Kingdom, with more than 87,600 jobs; Germany, which lost about 84,400 workers; France, about 58,370 or Italy, about 48,500.

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