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Northern Trust to Cut 500 from Global Staff

January 20, 2021 by Eugene Grygo

Northern Trust to Cut 500 from Global Staff

Custodian and service provider Northern Trust confirms that it will be shrinking its global workforce by approximately 500 positions, which is less than 2.5 percent of its total staff, due to the impacts of the COVID-19 pandemic and ongoing low interest rates. The staff cuts follow Northern Trust Corp.’s report of a third-quarter net income… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Buy-Side, Clearing, Data Management, Middle-Office, Ops Automation, Outsourcing, Reconciliation & Exceptions, Risk Management, Settlement, General Interest, Governance, Back-Office, Integration, Standards, Performance Measurement, KYC, Regulatory Compliance, Industry News, People Moves Tagged With: automation, back office, collateral management, COVID-19, data management, interest rates, layoffs, low interest rates, Northern Trust, operational risk, pandemic, settlement, The Federal Reserve

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