More than 200,000 jobs in European banking are at risk as lenders adopt artificial intelligence and reduce branch networks, according to a Morgan Stanley report. The analysis predicts a 10% job cut by 2030, primarily affecting central services, back-office, and compliance roles. With 2.12m employees in the sector, this equates to approximately 212,000 positions. Morgan Stanley noted that banks are under pressure to enhance efficiency, with some citing potential gains of 30% from AI. Jason Napier from UBS remarked: “Cost bases are large . . . and these new powerful tools are yet to be fully implemented.”
