Factbox: Banks to cut more than 120,000 jobs

Wed Nov 16, 2011 12:50pm EST

(Reuters) - Banks are shedding jobs worldwide as stricter regulations and a tough six months for trading income take their toll on investment banking units.

France's BNP Paribas is only one of the latest banks to confirm they are also cutting jobs.

At Citigroup (C.N), more than 3,000 staff could go.

Italy's UniCredit (CRDI.MI) said on Monday it was cutting 6,150 jobs as part of a strategy revamp, while Japan's Mizuho Financial group Inc (8411.T) is making 3,000 layoffs as it merges two banking units.

The layoff plans brings staff cuts announced this year or reported to be in the works at major banks to 123,000, some of them to be lost over three- or four-year programs.

The job cut estimates are likely to be conservative figures, as not all banks trimming teams have publicly announced lay-offs, and the number does not take into account smaller investment banks, boutiques and brokers.

Below is the latest summary of cuts:

Jobs to be cut Total staff*

HSBC (HSBA.L) 30,000 295,995

BANK OF AMERICA MERRILL 30,000 287,839

LYNCH (BAC.N)

LLOYDS BANKING GROUP 15,000 103,859

UNICREDIT (CRDI.MI) 6,150 160,552

UBS (UBSN.VX) 3,500 65,707

CREDIT SUISSE (CSGN.VX) 3,500 50,700

BARCLAYS (BARC.L) 3,500 146,100

INTESA SANPAOLO (ISP.MI) 3,000 101,169

MIZUHO (8411.T) 3,000 57,000

CITIGROUP (C.N) 3,000 267,000

ING (ING.AS) 2,700 98,169

ABN AMRO ABNNV.UL 2,350 26,161

MONTE DEI PASCHI DI SIENA c.2,200 31,201

NORDEA (NDA.ST) 2,000 34,169

DANSKE BANK (DANSKE.CO) 2,000 21,567

ROYAL BANK OF SCOTLAND c.2,000 148,300

BANK OF NEW YORK MELLON 1,500 48,900

BNP PARIBAS (BNPP.PA) 1,396 199,300

RABOBANK RABO.UL 1,200 59,000

BANCO POPOLARE (BAPO.MI) 1,120 19,209

GOLDMAN SACHS (GS.N) 1,000 35,500

JPMORGAN (JPM.N) 1,000 239,831

NOMURA (8604.T) c.1,000 35,697

DEUTSCHE BANK (DBKGn.DE) 500 102,062

SOCIETE GENERALE (SOGN.PA) c.500 160,700

* According to latest available figure, usually end 2010, mid-year or quarterly reports

(Reporting by Sarah White and Ethan Bilby; Editing by Jane Merriman)

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