Citi is also cutting back on job postings for traders and trading, as our first chart reflects. The bank reduced job postings about 40% from their second quarter high, until the end of Q2 - and open roles for traders are just a fraction of what they once were, in 2018.
Big banks are cutting back on skill positions, it seems, in part because they're out to cut comp as a way of making businesses more profitable.
And, Wednesday July 31, Wall Street is expecting the Federal Reserve to make margins a little tighter. Citi isn't the only bank to scale back on hiring for its trading teams.
At Goldman Sachs ($NYSE:GS), job postings for its Securities business - which houses the bank's sales and trading businesses - declined about 25% in the first half of 2019. But, that's not all - Goldman job postings for investment banking roles have shrunk nearly 50% in number from recent highs in May 2019, to just a couple of dozen postings today (chart not shown).
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.