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Story summary
- A Morgan Stanley analysis predicts more than 200,000 banking jobs could be eliminated by 2030 due to AI and digitalization.
- The cuts would amount to about 10% of the workforce at 35 major banks, mainly in back-office, risk management, and compliance.
- Banks aim for a 30% efficiency increase to compete with U.S. counterparts.
- ABN AMRO plans layoffs, while industry leaders warn that losing fundamental banking knowledge could create future risks.
